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
From Sea shores to Urban areas: Astonishing Worldwide Travel Objections - 2Fundamental Archives for Beginning Your Business
- 3Soldiers seize power in Guinea-Bissau and detain the president
- 4DEA seizes 1.7 million counterfeit fentanyl pills in Colorado storage unit
- 5Washington resident is infected with a different type of bird flu
- A quick recap of 'Stranger Things' Seasons 1-4, plus key episodes to rewatch before Volume 1 of the final season drops
- Vote in favor of Your Number one kind of pie
- My daughter is in the #1 movie in the country. She still has to finish her math homework.
- Gen Z workplace stereotypes were TV’s favorite punchline in 2025
- One spent $20 on candy. Another paid $700 for a custom costume. Here's how Halloween costs stacked up this year.
- Track down the Ideal Weight reduction Methodology for Your Way of life
- Woman charged in unprovoked stabbing of tourist changing baby's diaper in Macy’s Herald Square store
- Etymological Experiences on the Wireless transmissions: A Survey of \Learning in a hurry\ Language Web recording
- Solar storms can trigger auroras on Earth. This star’s explosion could destroy a planet’s atmosphere
