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
How mountain terraces have helped Indigenous peoples live with climate uncertainty - 2NASA’s history-making moon mission aims to send the first woman and person of color to deep space
- 3Pope Leo XIV calls for urgent climate action and says God’s creation is 'crying out'
- 4What we know about the Brown University shooting suspect who was found dead, and how police linked him to the MIT killing
- 5Some super-smart dogs can pick up new words just by eavesdropping
- A definitive Manual for Picking Electric Vehicle: Decision in favor of Your Number one
- Two UN peacekeepers killed in explosion in Lebanon
- The Most Vital Crossroads in Olympic History
- The most effective method to Decide the Best Auto Crash Attorney for Your Lawful Necessities
- New portrait of the oldest-known supernova | Space photo of the day for March 27, 2026
- US FDA investigates Takeda's blood disorder drug after pediatric death
- ‘This year nearly broke me as a scientist’ – US researchers reflect on how 2025’s science cuts have changed their lives
- Instructions to Choose the Best Material Organization for a Fruitful Rooftop Substitution
- At least 7 dead as Israel renews attacks on Beirut and across Lebanon
