Published on 11 Apr 2024 on Benzinga
Vertex's Alpine Acquisition: Unpacking Analyst Predictions on Povetacicept's Potential Impact -...
On Wednesday, Vertex Pharmaceuticals Incorporated VRTX agreed to acquire Alpine Immune Sciences Inc ALPN for $65 per share or approximately $4.9 billion in cash.
Evercore notes the deal as a surprise move as it is unusual for Vertex, which has often been critiqued for capital allocation, building up piles of cash amounting to $13.7 billion before the acquisition.