Neurocrine expands into metabolic diseases with $2.9 billion Soleno buyout

By Mariam Sunny

April 6 (Reuters) – Neurocrine Biosciences will acquire rare-disease drugmaker Soleno Therapeutics for $2.9 billion in cash, the companies said on Monday, marking the neuroscience-focused drugmaker’s expansion into ​metabolic disorders.

The deal gives Neurocrine access to Vykat XR, ‌the first drug approved in the U.S. to treat hyperphagia associated with Prader-Willi syndrome, a rare genetic disorder.

Neurocrine currently markets two rare-disease drugs, Ingrezza and Crenessity, which brought in combined sales of $2.81 billion in 2025.

The acquisition adds ‌a “third ​leg to the story that plays into ⁠Neurocrine’s current capabilities,” RBC Capital ⁠analyst Brian Abrahams said, noting its “accretion potential and competitive positioning”.

Neurocrine has offered $53 per Soleno share held, which represents a premium of about 34% to the stock’s last close.

Soleno shares surged ​nearly 33% in early trading.

Vykat XR is “a potential blockbuster in the making,” Neurocrine CEO Kyle Gano said on a call ⁠with analysts, though he added the ⁠company currently has no plans to launch the drug ​in Europe as it focuses on the U.S. market.

Cantor analyst Josh ​Schimmer expects Vykat XR to surpass $1 billion in annual ‌sales in 2029.

The treatment generated about $190 million in sales in 2025, within roughly nine months after receiving approval in March.

The deal, which is expected to close in the next 90 days, will ⁠be funded with cash on hand, Neurocrine said, adding that it plans to take a modest amount of prepayable debt.

Hyperphagia, or feelings of intense ⁠and persistent hunger, ‌is the hallmark symptom of Prader-Willi syndrome, which ⁠could lead to severe obesity as well ​as physical, ‌mental and behavioral problems.

CEO Gano said the company ​was not ⁠necessarily aiming for weight loss with Vykat XR, but noted that starting patients at a younger age and lower BMI could help maintain weight over time, something it would consider going forward.

(Reporting by Mariam Sunny and Gnaneshwar Rajan in Bengaluru; Editing by Vijay Kishore ​and Sriraj Kalluvila)