BioMarin Pharmaceutical said on Friday it would acquire Amicus Therapeutics for about $4.8 billion, in the drugmaker’s second deal this year to expand its presence in rare diseases.
The acquisition gives BioMarin access to two therapies, each with the potential to reach $1 billion in peak sales, the company said.
The drugmaker has offered $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 more than 15% in early trading.
Amicus markets oral therapy Galafold for Fabry disease, a rare genetic disorder that leads to the accumulation of fatty substances in cells.
Its enzyme replacement combination therapy Pombiliti-Opfolda targets Pompe disease, a genetic condition in which a complex sugar called glycogen builds up in the body’s cells.
These therapies complement BioMarin’s portfolio of enzyme-replacement treatments such as Vimizim and Naglazyme for rare genetic disorders that affect the body’s ability to break down certain substances.
Galafold and Pombiliti-Opfolda generated a combined $599 million in sales over the past four quarters.
“Amicus’ drugs are approved in several regions and BioMarin already has a global footprint that can even further expand these efforts,” said Cantor Fitzgerald analyst Kristen Kluska.
Amicus also has the U.S. rights to experimental kidney disease treatment DMX-200, developed in partnership with Australia-based Dimerix.
In May, BioMarin acquired genetic disorder drug developer Inozyme Pharma for about $270 million.
The company intends to finance the Amicus deal through a combination of cash on hand and about $3.7 billion in debt financing. The company had about $2 billion in cash and investments on September 30.
The deal, expected to close in the second quarter of 2026, will add to adjusted profit in the first 12 months after close.
Source: Reuters.com