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
Lebanon says Israeli strike killed 13 people near Palestinian refugee camp - 2ACA subsidies latest: Making sense of what's happening with health care after Republicans revolt, forcing a vote on funding extension
- 3The many ways that baking is winter therapy. With a delicious ending
- 4From a new flagship space telescope to lunar exploration, global cooperation – and competition – will make 2026 an exciting year for space
- 5I visited the largest collection of public telescopes in the US in Oregon's high desert, and the dark skies blew me away
- Why don’t humans have hair all over their bodies? A biologist explains our lack of fur
- Bolsonaro says hallucinatory effects of meds made him tamper with ankle tag
- The Force of Mentorship: Self-improvement through Direction
- Moon fever hits DC as Artemis 2 rocket 'candle' lights up Washington Monument just 1 month before launch (photos)
- The most effective method to Amplify Profits from Gold Speculation: Systems and Tips
- Go on A Careful spending plan: Modest Objections for Your List of must-dos
- Astronauts head home early after medical issue
- From invasive species tracking to water security – what’s lost with federal funding cuts at US Climate Adaptation Science Centers
- 2025 Was Another Exceptionally Hot Year
