Health
Vertex to Pay $4.9 Billion for Kidney Disease Drug Developer
- Company looking to move beyond cystic fibrosis treatments
- Bloomberg reported earlier that Alpine was considering options
This article is for subscribers only.
Vertex Pharmaceuticals Inc. agreed to buy Alpine Immune Sciences Inc. for a total equity value of about $4.9 billion, adding the biotech company’s immune treatments in its biggest acquisition ever.
Vertex will pay $65 a share in cash for Alpine, the companies said Wednesday in a statement, 67% more than Alpine’s closing price Tuesday of $38.94. Alpine shares rose as much as 37% Thursday when US markets opened. They had gained 21% in regular trading Wednesday after Bloomberg News reported Seattle-based Alpine was considering a sale,