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
‘It’s Israeli policy’: Report reveals abuse of Palestinians in prisons - 2Factbox-Weight-loss drug developers line up to tap lucrative market as competition heats up
- 3Director Emerald Fennell explains why "Wuthering Heights" has quotation marks around the title
- 4Blue Origin’s New Glenn rocket landed its booster on a barge at sea – an achievement that will broaden the commercial spaceflight market
- 5Death toll from floods in Afghanistan rises to 61
- Coffee Prices Finish Higher on Brazil Cop Concerns
- Flu cases are spiking earlier than usual. What you need to know.
- 5 High Limit Outer Hard Drives For Information Stockpiling
- Taylor Frankie Paul's domestic violence case is fueling discussions about DARVO. Experts say terms like this shouldn't be used lightly.
- Netanyahu leads meeting on West Bank riots, Katz defends axing administrative detention for Jews
- The most effective method to Explore Moral Situations in Brain research with Your Certification
- How a Middle East War Becomes a Retail Price Hike
- 10 Energizing Vocations in the Innovation Business
- Scientists solve the mystery of the prehistoric 'Burtele Foot'
