Vertex Pharmaceuticals has announced its plan to acquire Crinetics Pharmaceuticals for $10 billion, with the deal expected to close in the coming months.[2946869] The acquisition includes Crinetics' commercial drug Palsonify, which treats a rare endocrine disorder called acromegaly and has blockbuster potential if approved.[2946869] Vertex will also pick up other drug candidates from Crinetics that have the potential to be breakthrough treatments for various diseases.[2946869] The deal amounts to roughly $85 per share of Crinetics' stock, and shares rose 101% in after-hours trading following the news.[2946869] This acquisition is part of a larger trend in biotech M&A, with several major deals announced recently.[2906759]