Vertex Pharmaceuticals to acquire Crinetics for $10 billion

Vertex Pharmaceuticals announced a definitive agreement to acquire Crinetics Pharmaceuticals for an equity value of roughly $10 billion, paying $85 in cash per Crinetics share. The transaction was unanimously approved by both boards and is expected to close in the third quarter of 2026, subject to regulatory approvals. Financing will be provided through cash on hand and a $4.5 billion bridge loan from Bank of America and Morgan Stanley. The deal adds Crinetics’ endocrine portfolio—including PALSONIFY®, an oral therapy for acromegaly, and atumelnant, a Phase 3 ACTH‑receptor antagonist for congenital adrenal hyperplasia—to Vertex’s pipeline, potentially contributing about $5 billion of annual revenue and expanding the company beyond its cystic fibrosis franchise. Following the announcement, Crinetics shares surged nearly 100 % in after‑hours trading, while Vertex stock fell about 2 %. CEO Reshma Kewalramani said the acquisition “fits perfectly with our strategy” to focus on rare, high‑value diseases. An investor call was held on July 6, 2026, to discuss the transaction.