Overview
- Neurocrine and Soleno announced Monday a definitive $53-per-share cash tender, valuing Soleno at about $2.9 billion, with both boards approving and closing targeted in roughly 90 days pending a majority tender and antitrust review.
- Neurocrine said it will use cash on hand and a modest amount of pre‑payable debt to fund the offer with no financing condition, and it expects the deal to add to earnings in 2026.
- The buy centers on VYKAT XR, the first and only FDA‑approved treatment for hyperphagia linked to Prader‑Willi syndrome, a rare genetic disorder that drives persistent, dangerous hunger in an estimated 10,000 U.S. patients.
- VYKAT XR generated about $190 million in 2025, including $92 million in the fourth quarter, and Neurocrine plans a U.S.-first rollout as it touts patent protection into the mid‑2040s and executives point to potential for more than $1 billion in yearly sales.
- Following the announcement, Soleno withdrew its European application Tuesday to align with the U.S.-focused plan, noting it can return to EU regulators at a later date.