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
Ukrainian foreign minister appeals for funds for drones - 2Lebanon’s Hezbollah and Yemen’s Houthis join Iran in strike on Israel
- 3Newly Identified ‘Lucy’s Hunter’ Was a 15-Foot Crocodile Lurking in Ancient Ethiopia
- 4What loving-kindness meditation is and how to practice it in the new year
- 5Israel's ban on unsupervised reporters in Gaza causes strategic harm to legitimacy
- Employers and staff feel effect of fuel price rise
- The most effective method to Decide the Best Auto Crash Attorney for Your Lawful Necessities
- German politician urges more face-to-face interaction in digital age
- Birds Will Flock To Your Birdbath When You Plant These Two Flowers Around It
- 6 Famous kind of practice on the planet
- 'A prank': Israel Police detain suspect for shooting rubber bullets at Ashkelon kindergarten
- Carrying on with a Sans plastic Way of life: Individual Examinations in Maintainability
- Surging measles cases are 'fire alarm' warning that other diseases could be next
- Game theory explains why reasonable parents make vaccine choices that fuel outbreaks
