Vertex Pharmaceuticals to Acquire Crinetics Pharmaceuticals for $10 Billion

By Grace Yoon

Vertex Pharmaceuticals has agreed to purchase Crinetics Pharmaceuticals for $10 billion, adding a biopharmaceutical company that specializes in treatments for endocrine diseases to its portfolio that mainly includes cystic fibrosis therapies.

Vertex, a Boston-based biotechnology company, said it would acquire Crinetics for $85 a share in cash. The company pegged the value at $8.8 billion when accounting for net estimated cash acquired.

Shares of Crinetics more than doubled after hours $84.77, after closing the regular trading seeing at $42.03. The stock has gained more than 43% over the last year, but dropped 9.7% in 2026.

The acquisition would add to Vertex's pipeline and potentially grow its annual revenue by $5 billion with the addition of Crinetics-developed drugs Palsonify and Atumelnant, the company said. Vertex finished 2025 with $12 billion in total revenue, with most of its business from cystic fibrosis drugs.

Crinetics primarily develops products to treat endocrine disorders, including acromegaly, a rare hormonal disorder caused by the overproduction of growth hormone, and congenital adrenal hyperplasia, a condition that affects the adrenal glands.

Vertex Chief Executive Reshma Kewalramani said the acquisition of Crinetics would allow the company to rapidly advance medicines for patients living with serious, rare endocrine disorders and build on the momentum from the Palsonify launch.

Crinetics Chief Executive Scott Struthers said Vertex's global infrastructure and commercial footprint would maximize the impact of Palsonify, an oral therapy for adults with acromegaly.

The transaction is expected to close in the third quarter of 2026.

Write to Grace Yoon at grace.yoon@wsj.com

(END) Dow Jones Newswires

July 06, 2026 16:58 ET (20:58 GMT)