Posted 4/11/2024, 2:36:00 PM
Vertex Bets $4.9 Billion on Alpine's Promising Kidney Drug for IgA Nephropathy and Beyond
- Vertex Pharmaceuticals acquires Alpine Immune Sciences for $4.9 billion to gain its potential best-in-class IgA nephropathy drug, povetacicept
- Analysts see povetacicept as potentially leading its class despite being 1-2 years behind competitors
- Alpine stock skyrockets 37% on news of the acquisition, with analysts applauding the deal
- Vertex sees promise for using povetacicept in other autoimmune kidney diseases beyond IgA nephropathy
- The $4.9 billion price tag exceeds what Novartis recently paid for a competitor IgA nephropathy drug
