Vertex completes US$10B Crinetics acquisition to expand endocrine disease portfolio

USA—Vertex Pharmaceuticals Incorporated has completed its acquisition of Crinetics Pharmaceuticals, Inc., a global pharmaceutical company focused on developing and commercializing therapies for endocrine diseases.

Vertex completed the transaction on September 1, 2026, after receiving the required regulatory clearances and approval from Crinetics shareholders.

The acquisition follows a definitive agreement announced on July 6, 2026, under which Vertex agreed to acquire Crinetics for approximately US$10.0 billion in total equity value, or about US$8.8 billion after estimated cash acquired.

The deal adds Crinetics’ commercial and pipeline assets to Vertex’s portfolio and expands the company’s focus into rare endocrine diseases.

The acquisition includes PALSONIFY® (paltusotine), the first and only once daily oral treatment for acromegaly, as well as atumelnant, an investigational therapy for endocrine disorders.

PALSONIFY has launched in the United States and received approval in the European Union. Regulatory reviews are also underway in other markets.

Meanwhile, atumelnant, a once daily oral adrenocorticotropic hormone receptor antagonist, is being studied in Phase 3 trials for congenital adrenal hyperplasia and Phase 2 trials for Cushing’s syndrome.

Vertex estimates that PALSONIFY and atumelnant could generate more than US$5 billion in combined annual revenue at peak sales.

The company expects the transaction to become accretive to non GAAP operating income in 2029.

Vertex said it will account for the acquisition as a business combination and provide further details on its accounting treatment and financial impact during its third quarter earnings call on November 2, 2026.

Vertex expands executive leadership

Alongside the acquisition, Vertex announced changes to its executive leadership team to support its growth and diversification strategy.

Effective immediately, Charles Wagner, Executive Vice President and Chief Operating and Financial Officer, will expand his responsibilities as Chief Operating Officer to include oversight of the Crinetics integration.

The acquisition adds rare endocrine diseases as a new growth area alongside Vertex’s existing focus on cystic fibrosis, hematology, acute pain, and renal disease.

Effective January 1, 2027, Jonathan Poole, currently Vertex’s Senior Vice President of Finance, will become Executive Vice President and Chief Financial Officer.

Wagner will continue as Chief Operating Officer in his expanded role.

Poole has led Vertex’s global finance organization since March 2020, supporting the company’s research and development expansion, commercial growth and diversification.

He has also played a role in several acquisitions and their integration.

Before joining Vertex, Poole served as chief financial officer of Evelo Biosciences and Genocea Biosciences and as senior vice president of finance at Shire Plc.

New leadership for pain franchise

On September 8, 2026, Jasper van Grunsven will join Vertex as Executive Vice President and Chief Pain and New Product Planning Officer.

He will oversee the company’s pain franchise, including JOURNAVX® (suzetrigine) for moderate to severe acute pain, as well as global new product planning.

Van Grunsven previously served as Senior Vice President of Amgen’s Rare Disease portfolio and Global Customer Capabilities, Data and Analytics function.

Earlier in his career, he held senior roles at AbbVie, Abbott Laboratories and Nycomed.

“This is an exciting time for Vertex as we enter our next phase of growth and diversification,” said Reshma Kewalramani, M.D., President and Chief Executive Officer of Vertex.

Kewalramani said the company was pleased to welcome the Crinetics team and would work with them to expand PALSONIFY globally and advance the atumelnant program.

She also thanked Wagner and Poole for taking on expanded responsibilities and welcomed van Grunsven to the company’s executive leadership team.

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