Neurocrine Biosciences has announced that it has entered into a definitive agreement to acquire Soleno Therapeutics for approximately $2.9 billion.

 

The acquisition adds VYKAT XR (diazoxide choline), the first FDA-approved therapy for hyperphagia in Prader-Willi syndrome (PWS), a rare genetic disorder, to Neurocrine’s portfolio. 

 

Since its US launch in the second quarter of 2025, VYKAT XR has generated $190 million in revenue, including $92 million in Soleno’s fourth-quarter sales alone. Neurocrine plans to leverage its medical and commercial infrastructure to expand access and drive long-term shareholder value.

 

"This transaction will advance Neurocrine's mission to deliver life-changing treatments while accelerating our revenue growth and portfolio diversification strategy. 

 

"We share the Soleno team's deep commitment to the Prader-Willi syndrome community and look forward to leveraging our experience and capabilities to expand VYKAT XR's reach to benefit more patients, while further strengthening Neurocrine's leadership in delivering transformative medicines," said Kyle W. Gano, CEO of Neurocrine. 

 

"We congratulate Soleno on developing and launching VYKAT XR, showing strong results in a complex disease and enabling broad utilization with a clear label, and we look forward to working together to continue to help patients in need."

 

Anish Bhatnagar, Chairman and CEO of Soleno, echoed the sentiment: "Neurocrine is the right strategic partner to expand the reach of VYKAT XR in the Prader-Willi syndrome community given their experience in endocrinology and rare disease and their proven ability to execute successful commercial launches. We are excited to accelerate VYKAT XR's impact for PWS patients following completion of the transaction by leveraging Neurocrine's strong commercial capabilities."