Vertex to buy Crinetics for $10 billion, adding acromegaly drug Palsonify

Vertex Pharmaceuticals announced a $10 billion acquisition of Crinetics Pharmaceuticals, marking the largest deal in Vertex’s history.

The purchase gives Vertex control of Crinetics’ marketed therapy Palsonify, a drug launched last year for the rare endocrine disorder acromegaly.

Crinetics also brings a pipeline of candidates, including a late‑stage program for congenital adrenal hyperplasia that could have blockbuster potential.

The transaction values Crinetics at about $85 per share, and its stock jumped roughly 101 % in after‑hours trading following the announcement.