STAT+: Vertex acquires Crinetics Pharmaceuticals for $10 billion as biotech M&A booms

STAT PlusBreaking News Vertex acquires Crinetics Pharmaceuticals for $10 billion as biotech M&A booms The deal is the largest acquisition in Vertex’s history Manage alerts for this article Email this article Share this article By Allison DeAngelisJuly 6, 2026 Biotech Startups and Venture Capital Reporter Allison DeAngelis[email protected]Allison covers what hot startups are getting up to, and who’s financing them. She is also co-host of the weekly biotech podcast, “The Readout Loud.” You can reach Allison on Signal at AllisonDeAngelis.01. Vertex Pharmaceuticals will spend $10 billion to acquire Crinetics Pharmaceuticals and its drug for a rare endocrine disorder, the companies announced Monday. Through the deal, Vertex will pick up Crinetics’ commercial drug, Palsonify, which was launched last year and which treats a rare endocrine disorder called acromegaly, as well as other drug candidates that have blockbuster potential if approved. The company is also in the late stages of developing a therapy for congenital adrenal hyperplasia. Advertisement The $10 billion price tag for Crinetics amounts to roughly $85 per share of the company’s stock. Following the news, Crinetics shares rose 101% in after-hours trading. STAT+ Exclusive Story Already have an account? Log in This article is exclusive to STAT+ subscribers Unlock this article — plus in-depth analysis, newsletters, premium events, and news alerts. Already have an account? Log in Monthly $39 Totals $468 per year $39/month Get Started Totals $468 per year Starter $30 for 3 months, then $399/year $30 for 3 months Get Started Then $399/year Annual $399 Save 15% $399/year Get Started Save 15% 11+ Users Custom Savings start at 25%! Request A Quote Request A Quote Savings start at 25%! 2-10 Users $300 Annually per user $300/year Get Started $300 Annually per user View All Plans To read the rest of this story subscribe to STAT+. Subscribe Log In biotechnology, Pharmaceuticals, rare diseases, STAT+, Vertex Submit a correction requestReprints Allison DeAngelis Biotech Startups and Venture Capital Reporter Allison covers what hot startups are getting up to, and who’s financing them. She is also co-host of the weekly biotech podcast, “The Readout Loud.” You can reach Allison on Signal at AllisonDeAngelis.01. STAT+ Newsletter Senior writer Adam Feuerstein's unfiltered, uncompromising analysis on the biotech world Recommended The Readout July 6, 2026 STAT Plus: Four major biotech updates to catch up on Politics July 6, 2026 STAT Plus: GOP lawmakers push Trump’s FDA to make sure clinical trials are diverse Advertisement Matt's Take July 6, 2026 STAT Plus: I spoke to Anthropic’s CEO about how AI may affect biotech. Here’s what I learned D.C. Diagnosis July 2, 2026 STAT Plus: What does DeGette’s loss mean for pharma? The Readout July 2, 2026 STAT Plus: Roche drug sets new standard for KRAS-driven lung cancer Subscriber Picks