BioMarin to acquire Amicus Therapeutics for $4.8 billion in rare disease bet

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)