Vertex Pharmaceuticals was the lone bidder in a planned, $10 billion acquisition that has some investors questioning whether the biotechnology giant overpaid on its largest-ever deal. Financial documents filed Tuesday provide an inside look at the tie-up between Vertex and Crinetics Pharmaceuticals, a California-based company specializing in endocrine drugs. Crinetics has one marketed therapy for an uncommon hormonal condition, as well as an experimental medicine in late-stage testing for a rare genetic disease called congenital adrenal hyperplasia. Vertex estimates that, together, the two drugs could generate north of $5 billion a year at their peak.
Read the full article: Vertex Was Sole Bidder in High-Premium Crinetics Acquisition //
Source: https://www.biopharmadive.com/news/vertex-crinetics-acquisition-deal-bidder-process/825952/