Neurocrine Biosciences agreed to acquire Soleno Therapeutics for $2.9 billion in cash, a deal designed to scale a marketed therapy for Prader-Willi syndrome. The transaction includes Soleno’s FDA-approved treatment Vykat XR (diazoxide choline), indicated for hyperphagia in patients with PWS. The announcement described a 34% premium to Soleno’s closing share price on April 2 and said the deal is expected to close within 90 days subject to regulatory approvals. Neurocrine said the acquisition strengthens its endocrinology and rare disease portfolio while accelerating revenue growth and diversification. With Vykat XR generating roughly $190 million in its first year and Soleno nearing profitability, the integration plan will likely focus on commercial expansion, prescriber adoption, and potential line extensions for PWS care.