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
Iran begins cloud seeding to induce rain amid historic drought - 2Major railway disruptions persist as Germany braces for more snow
- 3Dolly Parton misses Dollywood event due to 'a few health challenges' after skipping honorary Oscars
- 4Guns N' Roses 2026 Tour: How to get tickets, presale times, prices and more
- 5The Best Competitors of the 21st Hundred years
- Style Narratives: A Survey of \Patterns and Styles Assessed\ Design
- With more Moon missions on the horizon, avoiding crowding and collisions will be a growing challenge
- The German series proving subtitles can be sexy — and wildly addictive
- How Skoda Lost Its Biggest Market In Just Seven Years
- Grasping the Elements of Medical caretaker Pay rates: Factors That Shape Your Pay
- Firefighters rescue two Israelis trapped in vehicles on flooded roads in West Bank
- Weather forecast, Turkana style: A goat's intestines tell it all
- This Week In Space podcast: Episode 192 — Space, 2026!
- 5 Food varieties to Remember for Your Eating regimen for Ideal Wellbeing
