Vertex Pharmaceuticals to Acquire Crinetics for $10B

By Hao Liu • Tuesday, July 07 10:50 • Permanent Link

Vertex Pharmaceuticals said it will buy Crinetics Pharmaceuticals in an all-cash deal valued at about $10.0 billion, or $8.8 billion net of estimated cash acquired, paying $85.00 per share. The agreement was unanimously approved by both boards and is expected to close in the third quarter of 2026.

The acquisition centers on two endocrine assets that Vertex says could generate more than $5 billion in combined annual revenue at peak. Crinetics’ recently launched Palsonify, approved by the FDA in September 2025 and by the EMA more recently, is the first once-daily oral therapy for adults with acromegaly. The company said the drug is already showing strong early commercial traction, with demand rising across patient segments, prescribing activity expanding and reimbursement coverage growing.

Vertex also gets Atumelnant, a once-daily oral ACTH receptor antagonist in phase 3 development for congenital adrenal hyperplasia. In phase 2 data, the drug produced rapid, substantial and sustained reductions in disease markers, including androstenedione and 17-hydroxyprogesterone, while allowing patients to stay on physiologic glucocorticoid replacement doses. Vertex said Atumelnant also has potential in Cushing’s syndrome.

The deal is expected to add to Vertex’s revenue growth immediately through Palsonify’s launch and to become accretive to non-GAAP operating income in 2029. Vertex said it plans to finance the purchase with cash on hand and debt, including $4.5 billion of fully committed bridge financing.

Crinetics’ lead commercial market is acromegaly, which the company estimates affects about 20,000 diagnosed people in the U.S. Its lead pipeline opportunity in classic congenital adrenal hyperplasia covers about 17,000 addressable U.S. patients. Vertex said the combined assets strengthen its growth outlook and long-term earnings profile. As a result of these announcements, the company's shares have moved 98.76% on the market, and are now trading at a price of $83.54. For more information, read the company's full 8-K submission here.

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