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
Radiate brilliantly: The 5 Precious stone Rings to Purchase in 2024 - 2Twins were the norm for our ancient primate ancestors − one baby at a time had evolutionary advantages
- 3The Ursid meteor shower will be the last of the year, peaking just before Christmas: What to know and how to watch
- 4Building Tough Connections: Individual Bits of knowledge on Association
- 5The most effective method to Move toward Compensation Conversations for Cutting edge Practice Enrolled Attendants
- German foreign minister heads to China to talk rare-earth exports
- Manual for Big name Work out schedules
- Winter storms blanket the East, while the U.S. West is wondering: Where’s the snow?
- Investigating Cooking and Culinary Expressions: An Excursion Through Flavors
- Instructions to Safeguard Your Speculations In the midst of Changing Disc Rates
- Figure out How to Keep up with Oral Wellbeing During Pregnancy
- Nordic people know how to beat the winter blues. Here's how to find light in the darkest months
- FDA claims on COVID-19 vaccine safety are unsupported by reliable data – and could severely hinder vaccine access
- Can a mammogram help identify heart disease?
