Vertex to buy Crinetics in $10 billion all-cash deal

Vertex Pharmaceuticals has agreed to acquire Crinetics Pharmaceuticals in an all-cash deal valued at approximately $10 billion, one of the largest pharmaceutical acquisitions announced in 2026. The transaction, announced on Monday, July 6, will see Vertex pay $85 per share for the San Diego-based endocrinology company, a premium of roughly 102% over Crinetics' closing price that day.

Following the announcement, shares of Crinetics nearly doubled in value, while Vertex shares fell approximately 2%. The deal, unanimously approved by both companies' boards, is expected to close in the third quarter of 2026, pending shareholder and regulatory approvals.

The acquisition centers on two key assets in Crinetics' portfolio. The first is Palsonify, the first and only once-daily oral therapy approved for adults with acromegaly, a rare hormonal disorder affecting an estimated 20,000 diagnosed patients in the United States. Approved by the U.S. Food and Drug Administration in September 2025, the drug has also received European approval and has shown early commercial momentum since its launch. The second asset is atumelnant, a drug currently in Phase 3 development for congenital adrenal...