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
The best overlooked performances of 2025 - 2Merz says army could be involved in mine-clearing from Hormuz
- 3Tata Motors, BMW among automakers set to raise prices in India
- 4ADHD drugs work, but not the way experts thought
- 5The 1 question we have to ask ourselves about the Taylor Frankie Paul 'Bachelorette' scandal
- Shrewd Home Gadgets to Save Energy
- Nearly half of reindeer have been wiped out and armadillos are in Iowa. Here’s how animals are weathering warming holidays
- Step by step instructions to Figure out the Natural Effect of 5G Pinnacles
- Flu activity rises sharply across US with 7.5 million cases, CDC data shows
- The most effective method to Amplify Your Opportunity for growth in a Web-based Degree Program
- Barn Stored Lotus Esprit Turbo Seen After 30 Years
- This Week In Space podcast: Episode 189 — Privatizing Orbit
- Sea level doesn’t rise at the same rate everywhere – we mapped where Antarctica’s ice melt would have the biggest impact
- Watch China's Shenzhou 22 rescue ship arrive at Tiangong space station (video)
