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
Figure out how to Arrange a Fair Settlement with the Assistance of a Fender bender Legal counselor - 2Rocket shines under the northern lights | Space photo of the day for March 25, 2026
- 3The most effective method to Decisively Plan Your Nursing Profession for the Best Compensation Results
- 4Moldova says Russian drones violated airspace
- 5Slims down for Maintainable Weight reduction
- 'I was diagnosed with incurable brain cancer on holiday'
- EU-funded BioSupPack project turns brewery waste into bioplastics
- $2,000 tariff rebate checks? 50-year mortgages? Making sense of Trump's new 'affordability' proposals.
- Tributes pour in for MIT professor Nuno Loureiro amid unresolved shooting case
- Poland Crypto Bill Clears Sejm Again, Defying President — Will “Restrictive” Rules Stick?
- Figure out How to Get the Most Familiar Drive for Seniors in SUVs
- How to identify animal tracks, burrows and other signs of wildlife in your neighborhood
- The most effective method to Distinguish the Best Material Organization in Your Space
- Exploring the Gig Economy: Illustrations from Consultants
