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Vertex Pharmaceuticals Seeks a Second Act With Alpine Immune Deal. What Wall Street Says.

Vertex Pharmaceuticals Seeks a Second Act With Alpine Immune Deal. What Wall Street Says.

Vertex Pharmaceuticals is taking a big swing to secure its own second act: Late Wednesday, it announced a $4.9 billion deal to buy Alpine Immune Sciences which is developing a drug to treat a rare kidney disease. Vertex said it would pay $65 per share for Alpine, a 38.2% premium over the stock’s Wednesday closing price of $47.04. Shares of Alpine were trading at $64.19 early Thursday, while Vertex shares were up 1.2%.