Vertex Pharmaceuticals agreed to acquire Crinetics Pharmaceuticals in a $10 billion cash deal, the largest M&A transaction in Vertex’s history, to broaden beyond cystic fibrosis into endocrinology. The companies said Vertex will pay $85 per share for Crinetics and expects the transaction to close in the third quarter of 2026. Crinetics brings Palsonify (paltusotine), an oral once-daily FDA-approved therapy for adults with acromegaly, plus late-stage and pipeline endocrine assets including atumelnant for congenital adrenal hyperplasia (CAH). Vertex estimates combined peak sales potential of more than $5 billion from Palsonify and atumelnant. The deal also highlights Vertex’s commercial strategy shift toward specialty markets where patients can start on oral therapies quickly after launch. Crinetics’ shares nearly doubled after the announcement, reflecting investor focus on immediate revenue contribution from Palsonify and additional value from CAH late-stage development.