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
Viable Correspondence: Building Solid Connections - 2Blue Origin's next space tourism flight will break new ground for people with disabilities
- 3How a rare drug made from scientists' blood saves babies from botulism
- 4The 1st full moon of 2026 rises tonight! Here's what to expect from January's supermoon Wolf Moon
- 5Figure out how to Separate Among Fledgling and Master Fender bender Legal counselors
- Turkey key underlying issue as Israel, Greece, Cyprus hold summit
- Eleven arrested over mass shooting in South Africa tavern
- British-Egyptian dissident apologises for tweets as Tories push for UK deportation
- Investigating the Advantages of a Bank account: A Complete Aide
- Find Exemplary Scents: An Extensive Aide
- Israeli Chief of Staff declares new border with Gaza Strip
- Los Angeles County sees significant uptick in norovirus cases, officials say
- The Force of Positive Reasoning: Day to day Attestations
- Exploring the Difficulties of Beginning a Family: Individual Experiences
