July 6 (Reuters) – Vertex Pharmaceuticals will buy Crinetics Pharmaceuticals for a total equity value of about $10 billion, the companies said on Monday.
Shares of Crinetics more than doubled in extended trading, while those of Vertex were marginally down.
The acquisition gives Vertex access to Palsonify, which was approved by the U.S. Food and Drug Administration in September 2025 to treat adults with acromegaly, a rare hormonal disorder caused by excess growth hormone. The companies said the once-daily oral therapy has shown early commercial momentum since launch.
Crinetics’ experimental drug, atumelnant, is in late-stage development for congenital adrenal hyperplasia, or CAH, a rare genetic disorder affecting the adrenal glands.
The companies said Palsonify and atumelnant could together generate more than $5 billion in peak annual sales. Vertex expects the deal to add immediately to revenue growth and become accretive to non-GAAP operating income in 2029.
Vertex will pay $85 per Crinetics share, the companies said, with the deal expected to close in the third quarter of 2026.
(Reporting by Puyaan Singh in Bengaluru; Editing by Jonathan Ananda)
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