Vertex buying Crinetics for $10B
AI Briefing
- • Vertex to acquire Crinetics for $10 billion in cash, valuing Crinetics at $85 per share.
- • The deal is expected to close in the third quarter of 2026, pending board approval.
- • The transaction is a strategic move to expand Vertex's pipeline and capabilities.
Context
Vertex Pharmaceuticals Inc. is acquiring Crinetics Pharmaceuticals Inc. for $85 per share in cash. The deal is valued at about $10 billion in equity value. Both companies' boards have approved the transaction.
The acquisition is expected to close in the third quarter of 2026, following approval from both boards.
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