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
The most effective method to Pick the Ideal Shrewd Bed for Your Special Rest Needs - 2Pick Your Favored kind of sandwich
- 3The most effective method to Shield Your Gold Ventures: Procedures and Precautionary measures
- 4The race is on to turn your body into a GLP-1 factory
- 5Violence 'never part' of break-in plan, court told
- Vote In favor of Your Favored Pizza Cover
- Relive NASA's historic Artemis 2 launch to the moon in these stunning photos
- This is Countdown, CNN’s newsletter covering NASA’s first time sending humans to deep space in over 50 years
- 'Peaky Blinders: The Immortal Man' teaser trailer reveals Cillian Murphy's Tommy Shelby back in action
- Manual for 10 Scrumptious Specialty Mixed drinks
- Flash flooding causes highways to close to and from Eilat
- Tourist trade in Greece and Cyprus suffering from Iran war effects
- How will the universe end?
- Vote in favor of your #1 Sort of Convenience for a Family
