Vertex to buy Crinetics for $10 billion in cash at 102% premium, marking its biggest deal
Boston-based Vertex Pharmaceuticals will acquire San Diego’s Crinetics Pharmaceuticals in a $10 billion all-cash deal, paying a 102% premium and marking the largest acquisition in Vertex’s history. Crinetics’ key assets include Palsonify, an approved daily pill for adults with acromegaly, and atumelnant, a Phase 2 candidate being studied for congenital adrenal hyperplasia (CAH) and Cushing syndrome. The companies expect the transaction to close in the third quarter. Crinetics is expected to use Vertex’s global commercial capabilities to scale sales.