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
Vote in favor of Your #1 4K television: Lucidity and Drenching Matter - 2Eating ultra-processed foods could raise precancerous polyp risk for women under 50, according to research
- 321 Incredibly Entertaining Contemplations To Observe Consistently
- 4Factbox-Weight-loss drug developers line up to tap lucrative market as competition heats up
- 5New hybrid mpox strain discovered in UK after US reports local spread
- The Best 10 Innovation Advancements of the Year
- Mystery foot suggests a second early human relative lived alongside Lucy
- Paratroopers kill terrorist who threw rocks at Israeli citizens, soldiers near Ofra in West Bank
- How did I get my own unique set of fingerprints?
- Fake new headlights rule steer Australian drivers astray
- Florida has quietly become America's execution capital
- More parents refusing this shot that prevents serious bleeding at birth
- Longtime United Launch Alliance CEO Tory Bruno resigns from space company. 'Finished the mission I came to do.'
- Zelensky sees win for Ukraine as EU finally reaches funding deal
