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
Research highlights potential dangers of ultra-processed foods for women under 50 regarding precancerous polyps - 2Photos of amputees in Gaza, struggling to survive after losing limbs to Israeli airstrikes
- 3Audits of the Top Science fiction Movies This Year
- 4Untamed life Safe-havens All over the Planet Offering Remarkable Creature Experiences
- 5Israel scales back use of top missile interceptors as Iran barrages persist
- Internet goes (cocoa) nuts: The funniest reactions to 12 tonne theft of KitKat bars
- Figurine of a woman and a goose offers peek at prehistoric beliefs
- Journey Travel Objections for Your Next Experience
- Turning into a Sharp Financial backer: Individual budget Wins
- China’s new condom tax will prove no effective barrier to country’s declining fertility rate
- Investigating the Medical advantages of Aloe Vera
- Why are NASA's Artemis astronauts wearing orange? What are they bringing to space? What to know about the preparation for their moon mission.
- Regeneron's experimental therapy combo effective in untreated cancer patients
- Vaccine exemptions for religious or personal beliefs are rising across the U.S.
