M&A

Vertex makes its largest-ever deal 

Vertex said yesterday it will spend $10 billion to acquire Crinetics Pharmaceuticals, a biotech developing drugs for rare endocrine disorders.

Through the deal, Vertex will pick up Palsonify, a drug for acromegaly, a rare condition caused by a pituitary tumor that secretes excess growth hormone. Crinetics is also developing a treatment for congenital adrenal hyperplasia, a rare genetic condition affecting the adrenal glands.

This is the largest acquisition in Vertex’s history. The drugmaker has been on a mission to build out the next generation of drug products beyond its cystic fibrosis portfolio.

Read more from STAT's Allison DeAngelis.

psychedelics

Compass says depression drug has long-lasting benefits

Compass Pathways said its investigational psilocybin treatment had lasting benefits on patients with severe depression out to six months.

The biotech previously reported that 39% of patients who took two high doses in a Phase 3 trial achieved what Compass called a “clinically meaningful reduction” on a depression rating scale after six weeks. Today, it said that on average, those participants maintained the benefit through at least six months.

In the trial, participants who didn't achieve remission in the first six weeks were eligible to then get an additional dose. Compass said this morning that 28% of participants who had achieved a clinically meaningful response but not remission at six weeks did later go into remission after the additional dose.

This is Compass' second pivotal trial. The first one, which tested just one dose at the outset, also met its primary endpoint. While experts think the results from the two studies are likely enough to support approval, some think the magnitude of benefit shown hasn't been particularly impressive.

Compass' treatment is one of three psychedelic compounds the FDA has selected to review on an accelerated basis. It's possible the drug could be approved as soon as this year.