Vertex Pharmaceuticals announced a $10B purchase of Crinetics Pharmaceuticals, paying $85 per share in cash. The Boston‑based biotech company will pay a net value of $8.8B after accounting for cash. Crinetics, which specializes in endocrine disease treatments, brings drugs such as Palsonify and Atumelnant that Vertex estimates could add $5B to annual revenue.

Vertex finished 2025 with $12B in total revenue, largely from cystic fibrosis medications. The acquisition adds a new therapeutic area and diversifies the company’s revenue base.

Crinetics shares surged to $84.77 after hours,.adapters after closing regular trading at $42.03. The stock has risen 43% over the past year but dropped 9.7% in 2026, showing volatility amid the deal.

The deal positions Vertex to broaden its pipeline beyond cystic fibrosis and may lift investor confidence by offering a broader revenue stream. Analysts view the $85 premium over recent prices as a sign of confidence in Crinetics’ pipeline potential.