STAT+: Vertex acquires Crinetics Pharmaceuticals for $10 billion as biotech M&A booms
Get the Health newsletter
Daily health & science — research, biotech, public health, the studies worth knowing. Free.
- Vertex Pharmaceuticals will acquire Crinetics Pharmaceuticals for $10 billion, announced Monday, in a deal valued at roughly $85 per share of Crinetics stock.
- Crinetics shares surged 101% in after-hours trading following the acquisition announcement.
- The deal brings Vertex Palsonify, a commercial drug launched last year that treats acromegaly, a rare endocrine disorder.
- Vertex also picks up Crinetics' late-stage therapy candidate for congenital adrenal hyperplasia, another rare endocrine condition.
- The acquisition includes additional drug candidates that the companies describe as having blockbuster potential if approved.
Why it matters: At roughly $85 per share, Crinetics investors saw a 101% after-hours surge — a clear market endorsement of Vertex's premium. Vertex gains both a launched rare-disease drug already generating revenue and a late-stage candidate for a second rare endocrine condition, consolidating two pipeline assets into one $10 billion swing.
Ask SkimNews
