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
Step by step instructions to Prepare with Senior Protection for Inward feeling of harmony. - 2Ergonomic Office Seats for Work spaces
- 3Figure out how to Keep up with Your Dental Inserts for Long haul Achievement
- 4The Way to Business: Startup Illustrations Learned
- 5Tracking down the Right Equilibrium: Charges versus Personal Costs in Senior Protection.
- 4 Must-Visit bar-b-que Eateries This Year
- 10 Moving Design Frill for Summer 2023
- Which Startup's Innovation Could Reform Medical care?
- I spent the last year transforming my life. Becoming a Rockette for a day made me confront a fear I couldn't shake.
- 6 Web-based Course Stages for Successful Learning and Educating
- The Craft of Do-It-Yourself Home Stylistic layout: Change Your Space
- Exploring the Mind boggling Universe of Connections: Individual Bits of knowledge
- The most effective method to Settle on Informed Conclusions about Senior Insuranc.
- Manual for 6 Busssiness Class Flights
