Neurocrine(NBIX.US) invests $2.9 billion to acquire Soleno(SLNO.US) to enter the metabolic disease field

LootboxPhobia · 2026-04-06T17:49:04+00:00

Neurocrine Biosciences will acquire Soleno Therapeutics for $2.9 billion in cash, expanding into the metabolic disease field. The transaction will enable it to obtain the binge eating disorder treatment drug Vykat XR, with projected future sales reaching $2 billion, and it is expected to be completed within 90 days.

LootboxPhobia

2026-04-06 17:49:04

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Zhitong Finance APP learned that Neurocrine Biosciences (NBIX.US) said on Monday that it will acquire rare-disease drugmaker Soleno Therapeutics (SLNO.US) for $2.9 billion in cash, marking the pharmaceutical company’s expansion into the metabolic-disease area from its focus on neuroscience. It is reported that Neurocrine Biosciences proposed to acquire Soleno Therapeutics shares for $53 per share, representing a premium of about 34% over the stock’s closing price on the previous trading day. As of the time of publication, Soleno Therapeutics’ shares were up nearly 33% in premarket trading on Monday in the U.S.

The deal will give Neurocrine Biosciences the right to use the drug Vykat XR. The drug is the first approved in the U.S. for the treatment of binge eating disorder (hyperphagia) associated with Prader-Willi syndrome. After it was approved in March 2025, it generated about $190 million in sales within roughly nine months.

Binge eating disorder—strong and persistent feelings of hunger—can lead to severe obesity as well as problems in physical, psychological, and behavioral aspects. According to U.S. government data, the incidence of this condition is about 1 in every 20k to 30k newborns, and about 20k patients in the U.S. are affected.

In a note, BMO Capital Markets analyst Evan Seigerman said that, considering competition and regulatory hurdles, compared with Neurocrine Biosciences’ in-house obesity treatment candidate drug, which is still in the preclinical testing stage, this transaction provides a “more reasonable path” to enter the metabolic-disease space. The analyst estimates that Vykat XR is expected to generate $450 million in sales this year, and that global sales will exceed $2.0 billion in the mid-2030s.

Neurocrine Biosciences said the transaction, which is expected to be completed within the next 90 days, will be paid for using existing cash, and added that the company plans to take on a small amount of debt that can be repaid early.

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