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 Integrate Compact disc Rates into Your Retirement Arranging - 2Schools to start reopening after Nigeria mass abduction
- 3Several killed in Ukraine and Russia after cross-border attacks
- 4Fundamental Home Exercise center Hardware: Amplify Your Exercises
- 5Hezbollah uses ambulances, paramedic uniforms, as disguise for terrorist activity, IDF says
- The most effective method to Safeguard Your Teeth from Acidic Food varieties and Beverages
- Dirty soda started as a Mormon alternative to booze. Now it's everywhere.
- NASA chief Jared Isaacman says Texas may get a moonship, not space shuttle Discovery
- How to watch the ‘Wicked: One Wonderful Night’ special — now streaming
- Saucony's $125 'Comfy, Stylish' Sneakers Are Now $55
- Telescope in Chile captures stunning new picture of a cosmic butterfly
- How to avoid or deal with an outrageous medical bill
- America's Confided in Fridge in 2024
- Kids get diseases like lupus, too. As researchers hunt better treatments, this camp brings joy
