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
Colleges say foreign students feel 'unwelcome' in the U.S. amid big drop in international enrollment, new survey finds - 2Supportive Tips On Home loans For First-Time Home Purchasers
- 3DEA seizes 1.7 million counterfeit fentanyl pills in Colorado storage unit
- 4Lift Your Style: Famous Hairdos for Ladies
- 5The Benefits of Rehearsing Careful Nurturing
- The Excursion to Monetary Proficiency: Individual budget Triumphs
- US students studying housing, health outcomes and sustainability win 2026 Rhodes scholarships
- Benin coup thwarted by loyalist troops, president tells nation
- The Way to Monetary Freedom: A Viable Aide
- Help Your Business with Master Web based Promoting Arrangements
- The Best 15 Applications for Efficiency and Association
- Under pressure at home, Belgium's leader treads a tight rope with EU partners over funds for Ukraine
- Unsold Rams May Be Less expensive Than You Suspect
- Ancient eggshells shed new light on crocodiles that hunted prey from trees
