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
Shrewd Home Gadgets to Save Energy - 2Discovering a true sense of harmony: Contemplation and Care Practices
- 3Help Your Insusceptibility: Good dieting and Way of life Tips
- 4Vote in favor of the bloom plan that adds a bit of excellence to your life!
- 5Drones, physics and rats: Studies show how the people of Rapa Nui made and moved the giant statues – and what caused the island’s deforestation
- Israel says soldiers wounded in Gaza fighting amid fragile truce
- 'Home Alone' actor Joe Pesci said 'no' to this stunt until he saw a 9-year-old girl do it, says director Chris Columbus
- 4 Family SUVs: Joining Solace and Style
- Deadly heat worldwide prompts $300 million for climate health research at COP30
- From a new flagship space telescope to lunar exploration, global cooperation – and competition – will make 2026 an exciting year for space
- Pilot captures jaw-dropping northern lights show from 36,000 feet (photos)
- Watch the Geminid meteor shower peak tonight from the comfort of home with this free livestream
- NASA says Maven spacecraft that was orbiting Mars has gone silent
- Investigating the World's Chief Authentic Urban communities to Visit
