Vertex Pharmaceuticals Inc.: Crinetics acquisition expands footprint into endocrinology

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Vertex Pharmaceuticals Inc.: Crinetics acquisition expands footprint into endocrinology

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Vertex Pharmaceuticals Inc.

Crinetics acquisition expands footprint

into endocrinology

Maintain Rating: BUY | PO: 598.00 USD | Price: 529.59 USD

Lead assets could bring in >$5bn in annual revenue 06 July 2026

Vertex (VRTX) announced it has entered a definitive agreement to acquire Crinetics Equity

Pharmaceuticals (CRNX) for $85/share in cash. The acquisition brings in Palsonify,

Tazeen Ahmad

currently approved in the US and EU for acromegaly, and atumelnant, currently in phase Research Analyst

3 for CAH and phase 2 for ACTH-dependent Cushing’s syndrome as well as the rest of BofAS tazeen.ahmad@bofa.com

the CRNX pipeline. VRTX underscored it views the lead programs as a >$5bn opportunity

Daniel Giraldo

with CAH representing a multibillion-dollar opportunity. VRTX noted the transaction fits Research Analyst

in with the company’s strategic focus on specialty markets with high unmet need and BofASdaniel.giraldoperez@bofa.com

expands the commercial footprint to endocrinology, a new therapeutic area for VRTX.

Jeremiah Lorentz

The transaction is expected to close in 3Q and become accretive starting in 2029. We Research Analyst

think the acquisition makes sense as it brings in clinically validated, late-stage assets BofASjeremiah.lorentz@bofa.com

that could significantly contribute to revenue generation and long-term growth. We are Wesley Yon

curious to see if this was a competitive process once the proxy comes out given the Research Analyst

>100% premium. VRTX remains a top pick with a Buy rating and $598 PO. BofASwesley.yon@bofa.com

Palsonify is off to a strong launch in acromegaly

VRTX highlighted Palsonify in acromegaly has blockbuster potential given its