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
Gulf countries roll out more autonomous taxis - 2Sentimental tree to shine at Arctic League annual broadcast
- 3Tanzania president remorseful over internet shutdown on election day
- 4'Here we go again': Businesses grapple with fuel costs
- 5The Golden Globes gift bag has nearly $1 million worth of swag for some winners and presenters. What's in it?
- How Trump's marijuana executive order could change medical research landscape
- Coffee Prices Finish Higher on Brazil Cop Concerns
- 7 Logically Demonstrated Techniques for Better Rest
- Artemis II live updates: NASA's moon mission breaks Apollo record for farthest distance humans have traveled from Earth
- In Antarctica, photos show a remote area teeming with life amid growing risks from climate change
- Solar storms can trigger auroras on Earth. This star’s explosion could destroy a planet’s atmosphere
- Tech for Wellbeing: Applications and Devices for a Better You
- Starship success, a private moon landing and more: The top 10 spaceflight stories of 2025
- Extreme Manual for Purchasing Your Next Truck
