Neurodrug Sales Surge 44% Amid $4 Billion Rare Disease Acquisition: U.S. Biotech's Aggressive Moves

Neurocrine Biosciences, Inc. (NASDAQ: NBIX) reported net product sales of $811.0 million and total revenue of $814.5 million for the first quarter of 2026, a 44% increase year-over-year. Strong demand for its lead movement-disorder therapy INGREZZA and new launch CRENESSITY drove the growth, and the company reaffirmed its 2026 INGREZZA sales guidance of $2.7–2.8 billion.

To secure VYKAT XR, a Prader-Willi syndrome treatment, Neurocrine agreed to acquire Soleno Therapeutics for $53 per share, totaling $2.9 billion. It also initiated new Phase 1 and 2 trials targeting psychiatric disorders and obesity, and expanded its leadership team with the promotion of a Senior Vice President of Technical Operations.

On May 18, the company completed the Soleno acquisition, formally adding VYKAT XR to its portfolio and making Soleno a wholly owned subsidiary. Separately, on May 15, director Richard F. Pops exercised and sold approximately 15,000 stock options in an insider transaction, netting about $2.36 million (roughly ₩3 billion).

Headquartered in San Diego, Neurocrine Biosciences specializes in central nervous system and endocrine disorders. With INGREZZA, CRENESSITY and now the rare-disease therapy VYKAT XR, it continues to broaden its commercial portfolio. In the U.S. biotech sector, large M&A transactions in high-barrier, long-patent-life areas such as neurological and rare diseases remain a key strategy for simultaneously expanding pipelines and revenue streams.