Vertex Pharmaceuticals Incorporated announced the successful completion of the acquisition of Crinetics Pharmaceuticals, Inc., a global pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for endocrine diseases. Vertex also announced the expansion of its executive leadership team, in support of the Company’s continued growth and diversification.
Completion of Acquisition of Crinetics Pharmaceuticals
As announced on July 6, 2026, Vertex entered into a definitive agreement with Crinetics Pharmaceuticals, whereby Vertex would acquire Crinetics for a total equity value of approximately $10.0 billion, or approximately $8.8 billion net of estimated cash acquired, subject to certain closing conditions. Following the receipt of necessary regulatory clearances and the approval by Crinetics’ shareholders, Vertex completed its acquisition of Crinetics on September 1, 2026.
The Crinetics acquisition adds to Vertex’s innovation pipeline, accelerates revenue growth, and enhances the long-term earnings profile of the Company. The acquisition brings PALSONIFY® (paltusotine) and atumelnant, in addition to several other pipeline programs. PALSONIFY is the first and only once-daily oral therapy for acromegaly; it has been launched in the U.S., approved in the EU and is under review by other global regulatory bodies. Atumelnant, a once-daily oral adrenocorticotropic hormone (ACTH) receptor antagonist, is in Phase 3 development for congenital adrenal hyperplasia (CAH) and in Phase 2 development for Cushing’s syndrome. At peak, PALSONIFY and atumelnant have the potential to deliver more than $5 billion in combined annual revenue. The transaction is expected to become accretive to non-GAAP operating income in 2029.
The acquisition is expected to be accounted for as a business combination, and Vertex will provide details on the accounting and financial impacts of the transaction on its third quarter earnings call, scheduled for November 2, 2026.
Expansion of Vertex’s Executive Leadership Team
Vertex also announced the following additions to its executive leadership team:
Effective immediately, Charles Wagner, EVP and Chief Operating and Financial Officer, will expand his COO role to include leadership of the Crinetics integration. The Crinetics acquisition will establish rare endocrine diseases as the next pillar of growth, alongside the Company’s four existing areas of focus in cystic fibrosis, hematology, acute pain and renal.
Effective January 1, 2027, Jonathan Poole, currently Vertex’s SVP Finance, will be appointed EVP, Chief Financial Officer. Mr. Wagner will continue in his expanded role as Vertex’s COO. Mr. Poole will report to Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex, and join the Company’s Executive Committee.
Mr. Poole has led Vertex’s global finance organization since March 2020 and has supported Vertex through a period of significant R&D portfolio expansion, global commercial growth and diversification, and the execution and integration of multiple acquisitions. Mr. Poole previously served as CFO of Evelo Biosciences and Genocea Biosciences and SVP of Finance at Shire Plc.
Additionally, on September 8, 2026, Jasper van Grunsven will join Vertex as EVP, Chief Pain and New Product Planning Officer, with responsibility for Vertex’s pain franchise, including JOURNAVX® (suzetrigine) for moderate-to-severe acute pain, as well as global new product planning. Mr. van Grunsven will also report to Dr. Kewalramani and join the Vertex Executive Committee.
Mr. van Grunsven is a seasoned biopharmaceutical executive with long and deep experience in sales, marketing and business operations across geographies, disease areas and modalities. Most recently, Mr. van Grunsven served as SVP of Amgen’s Rare Disease portfolio and the Global Customer Capabilities Data & Analytics function. Prior to joining Amgen, van Grunsven held a variety of roles with increasing responsibility at Abbvie, Abbott Laboratories and Nycomed.
“This is an exciting time for Vertex as we enter our next phase of growth and diversification, fueled by the rapid advancement of our R&D pipeline and commercial portfolio,” said Dr. Kewalramani. “With the closing of the Crinetics Pharmaceuticals acquisition, I am pleased to welcome the talented Crinetics team to Vertex and look forward to working together to continue to launch PALSONIFY globally and accelerate the atumelnant program. I also want to congratulate Charlie and Jonathan on their expanded roles and welcome Jasper to the company, as we continue to execute on our strategy to bring more transformative medicines to more patients around the globe.”
