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
IDF destroys Hamas shaft in northern Gaza with loaded 'ready to fire' rocket aimed at Sderot - 2NASA's Artemis 2 astronauts are cruising to the moon. So why are they doing CPR tests today?
- 3Vote In favor of Your Favored Web-based Book Retailor
- 4From Loner to Force to be reckoned with: Individual Accounts of Change
- 53 astronauts settle into their new life in orbit | On the International Space Station this week Dec. 1-5, 2025
- 'The best gift ever': Baby is born after the rarest of pregnancies, defying all odds
- FDA adds strongest warning to Sarepta gene therapy linked to 2 patient deaths
- Israeli archaeologists launch project to trace origins of ancient pottery
- Ergonomic Office Seats for Work spaces
- Baidu robotaxi outage in Wuhan caused by 'system failure', police say
- The most effective method to Guarantee Simple Availability in Seniors' SUVs
- Parents speak out as 4-year-old fights button battery injury in intensive care unit
- 4 astronauts depart ISS, leaving behind just 3 crewmates to staff the orbiting lab
- An Ideal Getaway - Spots for Solo Travel
