Vertex Pharmaceuticals Acquires Crinetics for $10 Billion at 102% Premium
Vertex Pharmaceuticals (VRTX) is acquiring Crinetics Pharmaceuticals (CRNX) for approximately $10 billion in a cash deal, representing a 102% premium over the latter's closing price. The acquisition aims to bolster Vertex’s portfolio with Palsonify, an FDA-approved treatment for acromegaly that generated $10.7 million in its first full quarter post-approval.
Topics: FDA approval mergers_and_acquisitions pharmaceuticals