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
3 astronauts settle into their new life in orbit | On the International Space Station this week Dec. 1-5, 2025 - 241 Young Men Die in South Africa After Circumcision Initiation
- 3I visited the largest collection of public telescopes in the US in Oregon's high desert, and the dark skies blew me away
- 4'Pluribus' release date: Everything you need to know about the new series from 'Better Call Saul's' co-creator
- 5Starbucks' new 'Bearista' cup is causing a stir — and is being listed on eBay for $600
- Figure out How to Explore Your Direction to the Best Dental Embed Trained professional: A Far reaching Manual
- Will your baby get a hep B vaccine? What RFK panel's ruling means.
- Avoid Slam: Clearing the Street for the Eventual fate of Standard Size Trucks
- Most normal matter in the universe isn't found in planets, stars or galaxies – an astronomer explains where it's distributed
- Instructions to Utilize the Towing Highlights of the Slam 1500 Productively.
- Innospace's rocket crashes in first commercial launch in Brazil; shares tumble
- Which Store is Your Decision ?
- 6 Famous Urban communities for Shopping on the planet
- Cathay Pacific raises fuel surcharge on all flights by 34%
