Neurocrine Biosciences announced a $2.9 billion acquisition of Soleno Therapeutics, adding the FDA-approved Vykat XR (diazoxide choline) therapy for Prader-Willi syndrome hyperphagia. Under the terms, Neurocrine will pay $53.00 per share in cash, a 34% premium to Soleno’s April 2 closing price. The deal includes regulatory approvals and is expected to close within 90 days. Neurocrine positioned the transaction as revenue expansion and portfolio diversification in endocrinology and rare disease, pairing Vykat XR with its existing rare endocrine assets while aiming to grow commercial reach for PWS patients.