Vertex to Pay $4.9 Billion for Kidney Disease Drug Developer (4)

Vertex Pharmaceuticals Inc. agreed to buy Alpine Immune Sciences Inc. for a total equity value of about $4.9 billion, adding the biotech company’s immune treatments in its biggest acquisition ever.

Vertex will pay $65 a share in cash for Alpine, the companies said Wednesday in a statement, 67% more than Alpine’s closing price Tuesday of $38.94. Alpine shares rose as much as 37% Thursday when US markets opened. They had gained 21% in regular trading Wednesday after Bloomberg News reported Seattle-based Alpine was considering a sale,

Working to move beyond its core business of cystic fibrosis treatments, Boston-based Vertex ...