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
9 African migrants died in freezing temperatures near Morocco-Algeria border - 2Forum Dvorah demands clear support for women in combat as IDF gender debate escalates
- 3Women take pride in Holy Week roles after a Spanish Catholic brotherhood's procession excluded them
- 4Early Thanksgiving week forecast: Where Americans can expect cold, rain and snow for the holiday
- 5Looking for a great Thanksgiving side dish recipe? These are the crowd-pleasers the Yahoo team swears by.
- Was it a stone tool or just a rock? An archaeologist explains how scientists can tell the difference
- The most effective method to Beat Dental Tension and Guarantee Customary Exams
- The most effective method to Safeguard Your Teeth from Acidic Food varieties and Beverages
- Bayer sues COVID vaccine makers over mRNA technology
- Gym tied to outbreak of obscure disease that spreads through mist
- 7 Methods for further developing Rest Quality
- Watch Chinese astronauts enjoy '1st ever space BBQ' from Tiangong's brand-new oven (video)
- Full Supreme Court to hear challenge to Judicial Selection Committee law
- Discovering a true sense of harmony: Contemplation and Care Practices
