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Analysts expect new details on the lead-up to the deal “are likely to reignite” investor scrutiny that Vertex overpaid in what’s poised to be its largest-ever transaction.
The biotech's diversification efforts continue.
H.C. Wainwright said Crinetics’ lead product Palsonify adds a meaningful commercial product and establishes endocrinology as Vertex’s fifth major business pillar.
The deal values Crinetics at $85 per share in cash, representing a potential upside of about 100% from the stock’s closing price on Monday.
Investing.com -- Vertex Pharmaceuticals Incorporated announced Monday it will acquire Crinetics Pharmaceuticals, Inc. for $85.00 per share in cash, representing a total equity value of approximately $10.0 billion, or approximately $8.8 billion net of estimated cash acquired.
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