Vertex Pharmaceuticals Agrees to Acquire Crinetics Pharmaceuticals in $10 Billion Deal at Over 100% Premium
Vertex Pharmaceuticals (VRTX) agreed to acquire Crinetics Pharmaceuticals (CRNX) for $10 billion, paying a premium of over 100%. The deal is driven by the potential of an experimental drug called atumelnant in treating congenital adrenal hyperplasia. While beneficial for Crinetics investors, Vertex's stock fell following the announcement.
Topics: healthcare M&A pharmaceuticals