Vertex Pharmaceuticals will buy Crinetics at $85 per share, expanding its endocrinology portfolio with two high-potential therapies.
Vertex Pharmaceuticals agreed to purchase Crinetics Pharmaceuticals for $85 per share in cash, valuing the deal at approximately $10 billion, or $8.8 billion net of cash. The acquisition aims to strengthen Vertex’s endocrinology franchise, targeting combined peak sales exceeding $5 billion for two key assets: PALSONIFY and atumelnant.
The deal includes PALSONIFY, an approved oral therapy for acromegaly, and atumelnant, a late-stage treatment for congenital adrenal hyperplasia. Vertex highlighted strong early uptake and payer coverage for PALSONIFY, though development risks remain for atumelnant.
Vertex expects to close the transaction in Q3 2026, financing it with cash and debt, including $4.5 billion in bridge financing. Management projects the acquisition will be accretive to non-GAAP operating income by 2029, with minimal near-term financial impact.