"Vertex Pharmaceuticals' $4.9 Billion Bet on Kidney Disease Treatment with Alpine Immune Acquisition"
Vertex Pharmaceuticals is acquiring Alpine Immune Sciences for $4.9 billion in cash, gaining access to the biotech firm's treatment for IgA nephropathy, an autoimmune disease of the kidney. The deal will provide Vertex with access to Alpine's povetacicept, a mid-stage treatment for IgAN, which targets proteins contributing to autoimmune and antibody diseases. The acquisition aligns with Vertex's focus on expanding its portfolio beyond cystic fibrosis and blood disorders, and the deal is expected to close in the second quarter of 2024.