Vertex Pharmaceuticals has entered into a definitive agreement to acquire Crinetics Pharmaceuticals, Inc. in an all-cash transaction. Under the terms of the agreement, Vertex will acquire all outstanding shares of Crinetics, which will become a wholly owned subsidiary of Vertex upon completion.
Key Details
- Transaction Terms: Vertex will acquire all outstanding shares of Crinetics Pharmaceuticals for $85.00 per share in cash.
- Timeline & Financing: The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions, including stockholder and regulatory approvals. The acquisition will be funded through a combination of cash on hand and a new $4.5 billion bridge loan facility.
- Termination Fee: The merger agreement includes a termination fee of approximately $350.5 million payable by Crinetics to Vertex under specified circumstances.