health
Neurocrine expands into metabolic diseases with $2.9 billion Soleno buyout
Neurocrine has offered $53 per Soleno share held, which represents a premium of about 34% to the stock's last close.
TL;DR
- Neurocrine Biosciences is acquiring Soleno Therapeutics for $2.9 billion in cash.
- The deal expands Neurocrine's portfolio into metabolic disorders with the drug Vykat XR.
- Vykat XR is the first U.S. approved drug to treat hyperphagia associated with Prader-Willi syndrome.
- Neurocrine is offering $53 per Soleno share, a 34% premium to the last close.
- Vykat XR is projected to generate $450 million in sales this year and over $2 billion globally by the mid-2030s.
- Prader-Willi syndrome affects 1 in 20,000 to 30,000 births, characterized by intense hunger (hyperphagia).