Vertex to buy Crinetics for $10 billion

 Vertex Pharmaceuticals announced on Monday that it reached a definitive agreement to buy Crinetics Pharmaceuticals for $85 per share in a total ⁠equity ​value of approximately $10 billion, "or approximately $8.8 billion net of estimated cash acquired."

The transaction has been unanimously approved by both the Vertex and Crinetics boards of directors and is expected to close in the third quarter of 2026, subject to customary closing conditions, including regulatory approvals and approval by Crinetics shareholders.

The acquisition adds Palsonify, the first once-daily oral treatment for acromegaly, and the Phase 3 candidate atumelnant to Vertex's rare disease pipeline. Crinetics shares surged 101% in after-hours trading in New York following the announcement, while Vertex shares traded 0.5% lower.

https://breakingthenews.net/Article/Vertex-to-buy-Crinetics-for-dollar10-billion/66641541