Crinetics Pharmaceuticals Inc (NASDAQ: CRNX) rose in pre-market trading after being acquired by Vertex Pharmaceuticals (NASDAQ: VRTX) for $85/share.

Vertex Pharmaceuticals (VRTX) fell about 2.3% after hours on Monday following a deal to acquire endocrine‑focused drugmaker Crinetics Pharmaceut...

Crinetics Pharmaceuticals shares are trading higher in Monday's after-hours session after the company announced it will be acquired by Vertex.

Vertex Pharmaceuticals will spend $10 billion to acquire Crinetics Pharmaceuticals and its drug for a rare endocrine disorder, the companies announced.

Vertex claimed the two drugs in the deal could eventually bring in more than $5 billion annually. Still, the high price it paid stirred debate among analysts and investors.

Crinetics Pharmaceuticals Inc (NASDAQ: CRNX) rose in pre-market trading after being acquired by Vertex Pharmaceuticals (NASDAQ: VRTX) for $85/share.