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Vertex to Buy Crinetics for $10 Billion, Gaining Oral Endocrine Drugs

The acquisition delivers a marketed oral acromegaly therapy, with a late‑stage ACTH antagonist joining Vertex and signaling a push beyond its cystic fibrosis business.

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Vertex to acquire Crinetics in deal worth around $10.0bn
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Overview

  • Vertex and Crinetics agreed to a definitive all‑cash deal valued at about $10 billion on Monday with Crinetics shareholders to receive $85 per share.
  • The transaction transfers Palsonify, a once‑daily oral therapy for acromegaly that launched in 2025 and has begun to generate commercial revenue, into Vertex’s portfolio.
  • Vertex will also acquire atumelnant, a once‑daily oral ACTH receptor antagonist now in Phase III for congenital adrenal hyperplasia with an estimated primary completion in May 2027.
  • Vertex plans to fund the purchase using cash on hand plus debt backed by a fully committed $4.5 billion, 364‑day unsecured bridge facility from a bank syndicate and expects the deal to close in the third quarter pending HSR review, foreign approvals, and Crinetics shareholder consent.
  • The deal is Vertex’s largest to date and is intended to diversify the company beyond its cystic fibrosis franchise with assets that Vertex projects could contribute more than $5 billion in peak annual revenue, while Crinetics shares roughly doubled on the announcement and Vertex shares moved modestly lower.