Vertex Pharmaceuticals to acquire Crinetics for USD10 billion

(AWP Alliance News) - Vertex Pharmaceuticals Inc on Monday said it had entered an agreement to acquire Crinetics Pharmaceuticals Inc in a deal worth USD10 billion.

The Boston-based pharmaceutical products company agreed to purchase shares in Crinetics for USD85 per share in a deal that was unanimously agreed upon by the boards of both companies.

Crinetics, a San Diego, California-based pharmaceutical company, offers a "focus on serious diseases in specialty markets with significant unmet need, well-understood causal human biology, and potentially best-in-class medicines that could deliver transformative benefit to patients," said Reshma Kewalramani, chief executive and president of Vertex.

Vertex noted Crinetics treatments such as Palsonify, an acromegaly disease drug, and Atumelnant, a congenital adrenal hyperplasia drug, are "potential blockbuster assets".

Vertex expects the combined market opportunity of Palsonify and Atumelnant to represent over USD5 billion in peak annual revenue.

The transaction, expected to close in the third quarter of 2026, will be financed through a combination of cash on hand and debt, with USD4.5 billion of bridge financing from Bank of America Corp and Morgan Stanley.

Shares in Vertex closed up 0.3% at USD529.59 each in New York on Monday, while Crinetics shares closed down 0.5% at USD42.03 each in New York.

By John Robaina, Alliance News reporter

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