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
Artemis 2 captures historic 'Earthset' photo | Space photo of the day for April 7, 2026 - 2Smartwatches: Remain Associated and Dynamic
- 3U.S. to drop childhood vaccine recommendations as it looks to Denmark, Washington Post reports
- 4Involved Vehicles for Seniors: Track down the Best Picks for Solace and Unwavering quality
- 5Check out the exclusive pitch deck Valerie Health used to raise $30 million from Redpoint Ventures to automate healthcare faxes
- Artemis II astronauts make long-distance call to the space station as they head home from the moon
- Israel's fractured opposition hands Netanyahu a full term
- The risk of falling space junk hitting airplanes is on the rise, experts warn
- German economic institutes cut forecast in half over Iran war
- 5 Signs Now is the ideal time to Update Your Android Telephone: When to Take the Action
- Tragedy in Minnesota, vaccine news, Snoop's game call: Week in review
- The most effective method to Pick A Trade-in vehicle Stage
- India’s delayed climate plan sets modest emission target
- Manhunt for Brown University shooter continues: FBI releases photos of suspect, announces $50K reward
