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
Lift Your Style: Famous Hairdos for Ladies - 2The Best Internet based Retailers for Style and Frill
- 3Israeli lawmakers pass bill reviving death penalty for terrorists
- 4How did this 20-light-year-wide 'Diamond Ring' form in space? Maybe a cosmic bubble burst
- 5What are parents to do as doctors clash with Trump administration over vaccines?
- Southern Californians, your health insurance costs could rise in 2026
- Ober Gabelhorn glacier reveals remains of man missing for over three decades
- Four countries to boycott Eurovision 2026 over Israel’s inclusion
- Toyota Motor Europe to roll out smart EV charging through new partnerships
- Fossils from China show complex life evolved millions of years earlier than once thought
- The 1 question we have to ask ourselves about the Taylor Frankie Paul 'Bachelorette' scandal
- Who plays Moana in the live-action remake? What to know about Catherine Lagaʻaia.
- Iran’s Crown Prince Reza Pahlavi backs protests: Join your fellow citizens in the streets
- Scientists Just Discovered Japan’s First New Bird Species in Over 40 Years
