Vertex Pharmaceuticals to Acquire Crinetics Pharmaceuticals for ~$10B

Shots:

• Vertex has entered into a definitive agreement to acquire Crinetics, incl. its assets Palsonify (paltusotine) & atumelnant, accelerating Vertex’s revenue growth and enhancing its long-term earnings profile
• As per the deal, Vertex to acquire Crinetics for $85/share in cash, representing the total equity value of ~$10B, or ~$8.8B net of estimated cash acquired
• Palsonify (QD, PO) is approved in the US & EU for adults with acromegaly, and is under global review, while atumelnant (QD, PO) is an ACTH receptor antagonist in P-III development for congenital adrenal hyperplasia

Ref: Businesswire  |  Image:  Crinetics  |  Press Release

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