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
Grasping the Elements of Medical caretaker Pay rates: Factors That Shape Your Pay17.10.2023 - 210 times the sky amazed us in 202522.12.2025
- 3Instructions to Utilize Your Brain science Certification to Work on Corporate Culture17.10.2023
- 46 US States for Fly Fishing01.01.1
- 5The most effective method to Apply Antiquated Ways of thinking in Current Brain science Practices17.10.2023
- 7 Methods for further developing Rest Quality
- One perk to marrying Richard Marx later in life? 'We don't have time' for stupid arguments, says Daisy Fuentes.
- Watch SpaceX launch powerful ocean-mapping satellite for Europe and NASA early Nov. 17
- Europe pledges over €15bn for clean energy for Africa
- Solar storms have influenced our history – an environmental historian explains how they could also threaten our future
- RFK Jr. guts the US childhood vaccine schedule despite its decades-long safety record
- Get To Be familiar with The Historical backdrop Of Western Medication
- The most effective method to Shake Hands During a Pandemic: Wellbeing Tips and Behavior
- Nuno Loureiro, MIT physicist, fatally shot at home; police investigate
