On Wednesday, Vertex Pharmaceuticals announced that it will be acquiring Alpine Immune Sciences for approximately $4.9 billion in cash. This acquisition will give Vertex access to Alpine’s protein-based immunotherapies that are used to treat autoimmune and inflammatory diseases. The deal values each share of Alpine at $65, representing a premium of about 67% to the stock’s closing price on Tuesday.
After attracting takeover interest and considering various options, including a potential sale, Alpine’s decision to be acquired by Vertex Pharmaceuticals caused their shares to increase by 36% in extended trading. However, shares of Vertex Pharma were down about 1% following the announcement of the acquisition. Through this acquisition, Vertex will gain access to Alpine’s povetacicept, a treatment in mid-stage development for IgA nephropathy (IgAN), an autoimmune disease of the kidney.
The transaction, which has been approved by the boards of both Vertex and Alpine, is expected to be completed in the second quarter of 2024. With this acquisition, Vertex Pharmaceuticals aims to strengthen its position in the treatment of autoimmune and inflammatory diseases by expanding its portfolio of therapies.
