Morrison Foerster is advising Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) (“Crinetics”), a global pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for endocrine diseases, on its $10.0 billion acquisition by Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) (“Vertex”). The transaction is anticipated to close in the third quarter of 2026, subject to customary closing conditions, including receipt of regulatory approvals and approval by Crinetics shareholders.
Crinetics’ marketed medicine, PALSONIFY® (paltusotine), is the first and only once-daily oral therapy for adults with acromegaly, and Crinetics’ most advanced pipeline candidate, atumelnant, is a once-daily oral adrenocorticotropic hormone (ACTH) receptor antagonist currently in Phase 3 development for congenital adrenal hyperplasia. The transaction is expected to contribute immediately to Vertex’s revenue growth via the ongoing launch of PALSONIFY and, longer term, atumelnant has the potential to be a multi-billion-dollar opportunity in congenital adrenal hyperplasia, with additional upside from its potential in Cushing’s syndrome. At peak, these assets have the potential to deliver more than $5 billion in combined annual revenue.
The MoFo team is being led by partners Jim Krenn, Spencer Klein, Joe Sulzbach, Frank Paz, Matthew Ferry, Domnick Bozzetti, Rob May and of counsel Emily Beers.
Read more about the transaction in Crinetics’ press release.
