Neurocrine Biosciences: A $4 Billion Acquisition and Revenue Growth in the U.S. Bio Sector

Neurocrine Biosciences, Inc. (NASDAQ: NBIX) reported that net product sales for the first quarter ended March 31 amounted to $811 million (approximately KRW 1.1 trillion), a 44% increase year over year, with the bulk of growth coming from INGREZZA and the newly launched CRENESSITY.

The company announced it has entered into an agreement to acquire Soleno Therapeutics for about $2.9 billion (around KRW 4 trillion) to secure the rare disease therapy VYKAT XR. At the same time, it has initiated Phase 1/2 clinical trials for schizophrenia candidate NBI-1117570 and obesity treatment candidate NBIP-2118, and reaffirmed its full-year revenue guidance for INGREZZA at $2.7 billion to $2.8 billion (approximately KRW 3.8 trillion to KRW 3.9 trillion).

According to a same-day filing, insider Richard F. Pops exercised stock options under a pre-arranged trading plan and sold 15,000 shares of common stock, generating approximately $2.36 million (about KRW 3.3 billion) in proceeds. After this transaction, his direct holdings stand at 34,480 shares.

On April 18, the acquisition of Soleno Therapeutics was officially completed, closing the roughly $2.9 billion deal. The first approved treatment for hyperphagia in Prader–Willi syndrome patients, VYKAT XR, was added to Neurocrine’s commercial portfolio alongside INGREZZA and CRENESSITY.

Soleno is now a wholly owned subsidiary of Neurocrine and has been delisted from NASDAQ.

Headquartered in San Diego, California, Neurocrine specializes in therapies for the central nervous system, endocrine disorders, and rare diseases. The company has grown its revenues primarily through INGREZZA, a treatment for movement disorders. Treatments for neurological, psychiatric, and rare diseases are high-cost, long-term prescriptions, making this segment highly competitive in the U.S. biopharmaceutical industry, with companies vying through acquisitions and pipeline expansion.