Vertex Pharmaceuticals (NASDAQ:VRTX) has announced a definitive agreement to acquire Crinetics Pharmaceuticals for $85 per share in cash, valuing the transaction at approximately $10 billion. The deal is aimed at expanding Vertex’s portfolio in specialty endocrinology and is set to close in the third quarter of 2026, pending shareholder and regulatory approvals.
The acquisition includes two key assets: PALSONIFY, an approved oral treatment for acromegaly that generated $10.3 million in net product revenue in Q1 2026, and atumelnant, an investigational therapy for congenital adrenal hyperplasia (CAH). Vertex estimates these products could collectively yield over $5 billion in peak annual sales. Current payer coverage for PALSONIFY stands at 60%, with plans to reach 75% by Q3 2026.
Vertex plans to finance the deal using cash and $4.5 billion in bridge financing. The acquisition will enhance Vertex’s focus on rare diseases, establishing endocrinology as its fifth disease-area pillar alongside cystic fibrosis, hematology, acute pain, and renal disease.
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