Alpine Immune Sciences is going to be bought by Vertex Pharmaceuticals for $4.9 billion

Vertex Pharmaceuticals to buy Alpine Immune Sciences in $4.9B deal. The deal values Alpine's stock at $65 a share, which is a nearly 67% premium from the stock's close on Tuesday. Vertex will gain access to Alpine's treatments for kidney disease.

The deal values each share of Alpine Immune at $65, representing a premium of about 67% to the stock's close on Tuesday. Shares of Alpine were up 36% in extended trading, while Vertex Pharma was down about 1%. Vertex currently has approval from the U.S. Food and Drug Administration for the treatments of cystic fibrosis.

Vertex to buy kidney disease drugmaker Alpine for $4.9B. The deal is the largest acquistion in Vertex’s 35-year history. CEO Reshma Kewalramani described it as “just the right fit”