Vertex acquires Crinetics for $10B
Analysis based on 34 articles · First reported Jul 06, 2026 · Last updated Jul 20, 2026
Vertex's stock dipped about 2% on the announcement, while Crinetics shares surged nearly 100% to near the offer price. The acquisition strengthens Vertex's rare disease portfolio beyond cystic fibrosis and is expected to be accretive to adjusted operating income by 2029.
Vertex Pharmaceuticals agreed to acquire Crinetics Pharmaceuticals for $85 per share in cash, valuing the deal at approximately $10 billion ($8.8 billion net of cash acquired). The transaction, approved by both boards, is expected to close in Q3 2026. Vertex gains Crinetics' marketed drug Palsonify (paltusotine) for acromegaly, approved by the FDA in 2025 and recently by the EMA, and atumelnant, a Phase 3 candidate for congenital adrenal hyperplasia (CAH) with potential in Cushing's syndrome. Combined peak annual revenue is estimated at over $5 billion. Vertex plans to finance the acquisition with cash on hand and $4.5 billion in bridge financing from Bank of America and Morgan Stanley. The deal is Vertex's largest ever, surpassing its $4.4 billion acquisition of Vertex Pharmaceuticals — Alpine Immune Sciences in 2024.
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