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
Nature: 10 High priority Setting up camp Spots In Europe - 2Remain Fit and Sound with These Exercise Fundamentals
- 3I'm a hypnotherapist who helps day traders who are losing money. Here's why I think hypnosis works.
- 4Scientists find new clues to why female fertility declines with age
- 5Tech for Wellbeing: Applications and Devices for a Better You
- Astronomers now say the moon is eating up molecules from Earth’s atmosphere
- Astronauts welcome arrival of new crewmates | On the International Space Station this week Nov. 24-28, 2025
- Let them eat (Taylor Swift) cake: The baker turning A-listers into life-size desserts
- The most effective method to Distinguish the Best Material Organization in Your Space
- Find the Insider facts of Viable Advertising: Building a Positive Brand Picture
- Flu illness count nears 5 million, with New York City among the hardest hit
- Meet the rescue team behind the astronauts as Artemis II's launch approaches
- As world leaders enter climate talks, people in poverty have the most at stake
- Private sector revives the climate disaster database Trump tried to squash
