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
No respite for German economy as experts slash forecast over Iran war - 2‘This year nearly broke me as a scientist’ – US researchers reflect on how 2025’s science cuts have changed their lives
- 3Cocoa Prices Settle Lower on Expectations of Adequate Supplies
- 4NASA releases new photos of interstellar comet 3I/ATLAS
- 5A definitive Frozen yogurt Standoff: Which Flavor Rules?
- IDF finds weapon of slain hostage Capt. Daniel Perez in booby-trapped Gaza compound
- How mountain terraces have helped Indigenous peoples live with climate uncertainty
- The most effective method to Recognize an Excellent Lab Precious stone
- Executed Iranian nuclear scientist confessed to aiding Israel after torture, threats against mother
- Congo declares its latest Ebola outbreak over, after 43 deaths
- Heartfelt Objections to Visit with Your Adored One
- The Most Paramount Crossroads in Olympic History
- Watch SpaceX launch powerful ocean-mapping satellite for Europe and NASA early Nov. 17
- Investigation reveals sperm donor passed on cancer risk to dozens of children across Europe
