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July 6 (Reuters) - Vertex Pharmaceuticals will buy Crinetics Pharmaceuticals for a total equity ‌value of about $10 billion, the companies ‌said on Monday.

Shares of Crinetics more than doubled in ​extended trading, while those of Vertex were marginally down.

The acquisition gives Vertex access to Palsonify, which was approved by the U.S. ‌Food and Drug ⁠Administration in September 2025 to treat adults with acromegaly, a rare ⁠hormonal disorder caused by excess growth hormone. The companies said the once-daily oral therapy ​has shown ​early commercial momentum ​since launch.

Crinetics' experimental drug, ‌atumelnant, is in late-stage development for congenital adrenal hyperplasia, or CAH, a rare genetic disorder affecting the adrenal glands.

The companies said Palsonify and atumelnant could together generate more ‌than $5 billion in peak ​annual sales. Vertex expects ​the deal to ​add immediately to revenue growth ‌and become accretive to non-GAAP ​operating income ​in 2029.

Vertex will pay $85 per Crinetics share, the companies said, with the deal ​expected to ‌close in the third quarter of ​2026.

(Reporting by Puyaan Singh in Bengaluru; ​Editing by Jonathan Ananda)