Vertex to buy Crinetics for ~$10B in largest-ever deal

Vertex Pharmaceuticals agreed on July 6 to acquire endocrine-disease specialist Crinetics Pharmaceuticals for $85 per share in cash, valuing the San Diego company at roughly $10 billion - Vertex's largest acquisition to date and about a 102% premium to Crinetics' prior close. The deal hands Vertex Palsonify (paltusotine), an oral once-daily drug approved in September 2025 for acromegaly, plus an endocrinology pipeline the companies say could deliver more than $5 billion in combined peak annual revenue. Approved by both boards, the transaction is expected to close in the third quarter of 2026 and become accretive to non-GAAP operating income in 2029.