BioMarin Pharmaceutical announced a definitive agreement to acquire Amicus Therapeutics for approximately $4.8 billion in all‑cash consideration, valuing Amicus at $14.50 per share. The offer represents a 33% premium to Amicus’ last closing price and a 46% premium to its 30‑day volume‑weighted average price, underscoring the strategic value BioMarin places on Amicus’ rare‑disease portfolio.
BioMarin will finance the transaction with a combination of cash on hand and roughly $3.7 billion of non‑convertible debt, with Morgan Stanley Senior Funding providing a bridge commitment. The deal is expected to close in the second quarter of 2026, contingent on regulatory approvals and shareholder consent.
The acquisition adds two high‑margin, revenue‑generating products to BioMarin’s pipeline: Galafold, an oral therapy for Fabry disease, and the two‑component Pompe disease therapy Pombiliti + Opfolda. Together, these products generated $599 million in annual sales for Amicus in the most recent fiscal year, providing BioMarin with an immediate, diversified revenue stream and a foothold in the growing orphan‑drug market.
Amicus’ Q3 2025 results showed total revenue of $169 million, up 17% at constant exchange rates, and a GAAP net income of $17 million ($0.06 per share). In contrast, BioMarin reported Q3 2025 revenue of $776 million, a 4% year‑over‑year increase, but a GAAP net loss of $31 million, reflecting recent investments and a decline in its hemophilia A product. The acquisition is therefore positioned to offset BioMarin’s recent revenue challenges and accelerate its growth trajectory.
Management highlighted the strategic fit: “Amicus, like BioMarin, is dedicated to transforming care for patients with rare diseases,” said Alexander Hardy, CEO of BioMarin. “Our global commercial footprint and in‑house manufacturing capabilities will accelerate the reach of Galafold and Pombiliti + Opfolda, creating an exceptional strategic fit.” Bradley L. Campbell, CEO of Amicus, added, “With BioMarin’s resources and scale, our medicines will reach more patients worldwide, faster.”
The deal also resolves pending U.S. patent litigation for Galafold, extending its exclusivity through January 2037 and providing long‑term revenue certainty. Analysts noted that the 33% cash premium and the addition of two high‑margin products are likely to make the transaction accretive to BioMarin’s non‑GAAP diluted EPS within the first year after closing.
Market reaction to the announcement was swift: Amicus’ shares surged roughly 30% in pre‑market trading, reflecting the premium and cash certainty offered to shareholders. BioMarin’s shares rose about 4.6% in pre‑market trading, driven by the strategic rationale and the expectation of accelerated revenue growth.
The acquisition positions BioMarin to strengthen its rare‑disease focus, diversify its revenue base, and leverage its manufacturing and commercial capabilities to expand the reach of Amicus’ products. The transaction also enhances BioMarin’s competitive standing in the orphan‑drug market and provides a clear path to offset recent revenue headwinds.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.