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
Figure out how to Perceive Warnings while Looking for an Auto Collision Lawyer - 2Extreme Manual for Picking a Camper Van
- 3The most effective method to Pick the Best Wellbeing Highlights for Seniors in SUVs
- 4The race is on to turn your body into a GLP-1 factory
- 5Last supermoon of the year, the cold moon, seen across the U.S.: See the photos
- 'Stranger Things' Season 5: What's going on with Will Byers? That shocking Volume 1 plot twist, explained.
- The most effective method to Amplify Profits from Gold Speculation: Systems and Tips
- Boeing's troubled capsule won't carry astronauts on next space station flight
- 'A prank': Israel Police detain suspect for shooting rubber bullets at Ashkelon kindergarten
- The Force of Positive Reasoning: Day to day Attestations
- Windows to the Previous: An Excursion Through the World's Notable Engineering
- Remote Headphones: Upgrade Your Sound Insight
- Kids get diseases like lupus, too. As researchers hunt better treatments, this camp brings joy
- Tatiana Schlossberg's diagnosis puts spotlight on leukemia: What to know
