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
When Would it be a good idea for you to Look for Help from a Criminal Legal counselor? - 2The Best Internet based Retailers for Style and Frill
- 3Czech Republic's new premier: No money for Ukraine
- 4Dark matter may be made of pieces of giant, exotic objects — and astronomers think they know how to look for them
- 5Web designers for Independent ventures
- Doulas play essential roles in reproductive health care – and more states are beginning to recognize it
- Manual for Financial plan Agreeable PC
- Recalled Super Greens diet supplement powder sickens 45 with salmonella
- Figure out How to Ascertain the Restitution Time frame for Your Sunlight based chargers
- The Solution to Defeating Tarrying: Systems for Expanded Efficiency
- From Representative to Business visionary: Private issue Victories
- 7 Powerful Techniques to Boost Efficiency with Your Cell Phone: A Far reaching Guide
- The beauty advent calendar boom is here. Sephora kids are all in.
- Figure out How to Get the Best Open Record Rewards
