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
Hamas urges Hezbollah to kidnap Israeli soldiers in wake of Knesset passing death penalty bill - 2All that You Really want to Be familiar with Dental Inserts Facilities
- 3The most effective method to Make a Dazzling Site in 5 Basic Advances
- 4Study casts doubt on potential for life on Jupiter's moon Europa
- 5Vote In favor of Feasible Way You Prescribe to Shop for Garments
- Vote In favor of Your Favored Web-based Venture Stage
- Israeli police block Latin Patriarch from Palm Sunday mass in Jerusalem
- ‘More should be done’: UN pushes Syrian regime on justice for Druze, Alawites and minority groups
- Style Narratives: A Survey of \Patterns and Styles Assessed\ Design
- Where should we send a real 'Hail Mary' spacecraft? A new study has the answers
- Why doing good also makes us feel good, during the holidays and beyond
- Ultra-Orthodox protests erupt across Israel on haredi IDF enlistment day
- The most effective method to Pick the Ideal Shrewd Bed for Your Special Rest Needs
- 21 Incredibly Entertaining Contemplations To Observe Consistently
