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
Amplifying Cash The executives: The Upsides and downsides of Various Ledgers - 2Von der Leyen: Paris meeting sends signal of unity for Ukraine
- 3China bans storing cremated remains in empty 'bone ash apartments'
- 4Can ICE agents detain U.S. citizens? What powers do they have to arrest people? Your most common questions answered.
- 5Trump says Venezuela will start 'turning over' oil to the U.S. Is that the reason he toppled Maduro — or is it something else?
- Oldest evidence of human fire-making discovered at site in England
- BHP liable for 2015 Brazil mine disaster: UK court
- Falcon 9 rocket launches Starlink satellites before making 550th SpaceX landing (video)
- RFK Jr. says fewer flu shots for kids may be 'better.' What experts say.
- International issues on the agenda as Frances's Macron visits China
- Executed Iranian nuclear scientist confessed to aiding Israel after torture, threats against mother
- How food assistance programs can feed families and nourish their dignity
- Eurovision Song Contest changes voting rules after controversial allegations against Israel
- Avoid Slam: Clearing the Street for the Eventual fate of Standard Size Trucks
