#crinetics

The post Boom Times For Autoimmune Disease Therapies appeared on BitcoinEthereumNews.com. In this week’s edition of InnovationRx, we look at the boom in autoimmune disease therapies, OpenAI’s healthcare push, Vertex’s $10 billion purchase of Crinetics, and more. To get it in your inbox, subscribe here. AbbVie’s Skyrizi is on track to become the world’s second-highest selling drug, according to pharma consultants Evaluate. The Associated Press AbbVie’s Skyrizi, an injectable drug for autoimmune diseases that include psoriasis and Crohn’s disease, is expected to surpass $33 billion in revenue in 2032, making it the world’s second-biggest selling drug, according to a recent report from pharma data and consulting firm Evaluate. That puts it smack between Eli Lilly’s GLP-1 blockbusters, Mounjaro (for diabetes) and Zepbound (for weight loss). “Only autoimmune disease drugs come close to rivaling Lilly’s anti-obesity blockbusters given their potential to treat dozens of conditions driven by s

The post Why Crinetics Stock Doubled After Vertex’s $10 Billion Buyout appeared on BitcoinEthereumNews.com. Crinetics Pharmaceuticals shares nearly doubled on Monday, July 6 after Vertex Pharmaceuticals agreed to buy the company for $10 billion in cash. Vertex will pay $85 a share. That is roughly double Crinetics’ closing price the day before Vertex announced the deal. What Vertex Is Actually Buying Crinetics makes Palsonify, a pill for acromegaly, a rare disorder that causes excess growth hormone. Patients previously relied on regular injections, so a once-daily pill is a real upgrade in convenience. Vertex, known for its cystic fibrosis drugs, is betting big on that convenience. It has a second drug in late-stage trials for another rare hormone condition. Together, the two products could bring in more than $5 billion a year at their peak. William Blair analyst Myles Minter said the price tag makes sense if that sales target holds up. “Investors will debate this (stock was down 1.8%