Vertex further diversifies with ‘fifth pillar’ via $10B Crinetics acquisition

Vertex believes its $10 billion acquisition of Crinetics will give it a pair of growth drivers that can further diversify the company, easing its reliance on a cystic fibrosis franchise that may be near its ceiling.

The addition of marketed drug Palsonify paltusotine and late-stage asset atumelnant, both assets for rare endocrinology diseases, give Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) a “fifth pillar” of its business, EVP, COO and CFO Charles Wagner said on a conference call late Monday. Beyond CF, Vertex has marketed drugs for hematology and acute pain, as well as a late-stage asset for renal disease...