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
NASA wants to build a base on the Moon by the 2030s – how and why it plans to build up to a long-term lunar presence - 2Tributes pour in for MIT professor Nuno Loureiro amid unresolved shooting case
- 3New movies to watch this weekend: See 'The Running Man' in theaters, rent 'One Battle After Another,' stream 'Nobody 2' on Peacock
- 4Pilot captures jaw-dropping northern lights show from 36,000 feet (photos)
- 5'Spending more on gas than groceries:' Rising fuel prices drive more San Antonio families to the Food Bank amid Iran war
- My prescription costs what?! Pharmacists offer tips that could reduce your out-of-pocket drug costs
- Federal judge upholds Hawaii's new climate change tax on cruise passengers
- Cocoa Prices Undercut Amid the Prospects of Abundant Supplies
- Clocks to go forward one hour in Europe as summer time starts
- Iran warns its ready to open new front in Yemen, close Bab al-Mandab Strait with Houthis
- Artemis II live updates: NASA's moon mission breaks Apollo record for farthest distance humans have traveled from Earth
- The Best Internet Mastering Stages for Expertise Improvement
- First Alert: Light snow through this evening
- Why are malnutrition deaths soaring in America?
