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
4 Family SUVs: Joining Solace and Style - 2This widow influencer is using jokes to cope after her husband's death. It's OK if people don't get it.
- 3Where America’s CO2 emissions come from – what you need to know, in charts
- 46 Famous Urban communities for Shopping on the planet
- 5IDF strikes Shiraz petrochemical site, releases footage of attacks on Iranian air defenses
- Understanding climate change in America: Skepticism, dogmatism and personal experience
- College students are now slightly less likely to experience severe depression, research shows – but the mental health crisis is far from over
- The Way to Monetary Health: Individual budget Change
- Former ‘Dancing with the Stars’ Pro Survives Plane Crash at LaGuardia That Left 2 Pilots Dead
- 7 Odd Apparatuses to Make Your Party Stick Out!
- Key Business Regulations to Consider While Arranging Your Independent venture
- Smooth countdown continues for Artemis II moon mission
- Flu is rising rapidly, driven by a new variant. Here's what to know
- There’s ‘super flu,’ COVID, RSV. Is it going around in SoCal?
