Vertex Pharmaceuticals has announced plans to acquire Alpine Immune Sciences for approximately $4.9 billion in cash, with the goal of expanding their capabilities in the development of protein-based immunotherapies. This acquisition will provide Vertex Pharmaceuticals with access to Alpine’s innovative treatments for autoimmune and inflammatory diseases.
The deal values each share of Alpine at $65, marking a significant premium of about 67% to the stock’s closing price on Tuesday. Following reports that Alpine was exploring strategic options, including a potential sale, the company attracted takeover interest which ultimately led to the agreement with Vertex Pharmaceuticals. Upon news of the acquisition, shares of Alpine rose by 36% in extended trading, while Vertex Pharma saw a slight decline of about 1%.
Through this deal, Vertex Pharmaceuticals will gain access to Alpine’s povetacicept, a promising therapy in mid-stage development for the treatment of IgA nephropathy (IgAN), an autoimmune disease affecting the kidneys. The transaction has been approved by the boards of both Vertex and Alpine and is expected to be finalized in the second quarter of 2024. This strategic move marks an important step in the expansion of Vertex Pharmaceuticals’ portfolio of treatments for autoimmune and inflammatory conditions.
