Vertex Pharmaceuticals to Acquire Alpine Immune Sciences for $4.9 Billion
By Ben Glickman
Vertex Pharmaceuticals has agreed to acquire Alpine Immune Sciences for $4.9 billion in cash, giving the pharmaceutical giant access to Alpine's potential treatment for chronic kidney disease.
The companies said on Wednesday that Vertex would pay $65 a share for Alpine. Net of expected cash acquired, the deal is valued at around $4.6 billion.
Alpine Immune's lead candidate is being evaluated as a potential treatment for IgA nephropathy, a chronic kidney condition that can lead to end-stage-renal disease, and affects about 130,000 people in the U.S. The molecule, called povetacicept, is expected to enter Phase 3 development in the second half of this year, the companies said.
The acquisition is expected to close in the second quarter of 2024.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
April 10, 2024 16:30 ET (20:30 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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