Dec 19 (Reuters) - BioMarin Pharmaceutical (BMRN) said on Friday it would acquire Amicus Therapeutics (FOLD) for about $4.8 billion, expanding its presence in rare metabolic diseases.
The drugmaker will pay $14.50 per share for Amicus, a premium of 33.1% to the stock's last close. Shares of Amicus surged 30%, while BioMarin rose nearly 5% in premarket trading.
The deal strengthens BioMarin's portfolio with Amicus' approved genetic disorder treatments including Galafold, an oral drug for Fabry disease, which is caused by a faulty gene that leads to a buildup of fatty substances in cells.
Amicus also markets a combination therapy Pombiliti and Opfolda for Pompe disease, a genetic condition in which a complex sugar called glycogen builds up in the body's cells.
Amicus also has U.S. rights to DMX-200, a potential treatment of a type of kidney disease known as focal segmental glomerulosclerosis.
BioMarin intends to finance the deal through a combination of cash on hand and about $3.7 billion of non-convertible debt financing.
The company's total cash and investments at the end of September 30 were about $2 billion.
The acquisition, which is expected to close in the second quarter of 2026, will add revenue immediately after the transaction closes, BioMarin said.
The deal is also expected to add to adjusted profit in the first 12 months after close and be substantially accretive beginning in 2027, the company said.
(Reporting by Christy Santhosh and Sriparna Roy in Bengaluru; Editing by Leroy Leo and Maju Samuel)
LATEST POSTS
- 1
Car Investigation: A Survey of \Past the Outside\ Car - 2Arctic sea ice hits lowest winter level as heat records are shattered worldwide
- 3I watched the buzzy new AI documentary — and left feeling both hopeful and terrified
- 46 Travel Services for Colorful Get-aways: Pick Your Fantasy Escape
- 5Monetary Freedom Guide: Plan Your Future
- Focus on Yourself: Wellbeing and Taking care of oneself Practices
- EU-funded BioSupPack project turns brewery waste into bioplastics
- Knesset FADC extends emergency draft for 280,000 IDF reservists until January 1
- I traveled to 13 countries in 2025. This small island nation surprised me the most.
- Eurovision Song Contest changes voting rules after controversial allegations against Israel
- 7 Fast Approaches to Let loose Space on Your Telephone in a flash
- Posts falsely claim Netanyahu video fabricated to cover up his death
- Kuwait is softening stance on Israel, dissident tells ‘Post’ after viral UN speech
- Step by step instructions to Guarantee Your Lab Precious stone is Morally Obtained
