BioMarin Pharmaceutical to Acquire Amicus Therapeutics for $4.8 Billion

BioMarin Pharmaceutical Inc. has announced its agreement to acquire Amicus Therapeutics Inc. for approximately $4.8 billion. This acquisition is part of BioMarin's strategy to enhance its portfolio in the rare disease sector. BioMarin will pay $14.50 per share for Amicus, which represents a 33.1% premium over Amicus's last closing price. Following the announcement, shares of Amicus surged by 30%, while BioMarin's shares rose by over 15% in early trading.

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The acquisition is expected to close in the second quarter of 2026, pending shareholder and regulatory approvals. BioMarin plans to finance the deal through a combination of its existing cash reserves and approximately $3.7 billion in debt financing. As of September 30, BioMarin reported around $2 billion in cash and investments.

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The acquisition will provide BioMarin with access to two significant therapies: Galafold, an oral treatment for Fabry disease, and Pombiliti-Opfolda, a combination therapy for Pompe disease. These therapies have generated combined sales of $599 million over the past year and are projected to reach peak sales of over $1 billion each. BioMarin's CEO, Alexander Hardy, emphasized that the deal aligns well with the company's existing capabilities and commercial footprint, stating, “It’s an absolutely perfect fit with what BioMarin already does really well.”

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Analysts predict that the addition of Amicus's therapies could contribute approximately $1.4 billion in sales by 2030, helping to diversify BioMarin's revenue streams and reduce reliance on its top-selling drug, Voxzogo, which treats achondroplasia.

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While the acquisition has been generally well-received, some analysts have noted potential risks associated with the integration of Amicus's products and the competitive landscape of rare disease treatments. Cantor Fitzgerald analyst Olivia Brayer remarked that the deal immediately enhances BioMarin's top-line growth, a key focus for investors.

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BioMarin stated that the acquisition is expected to add to adjusted profit within the first 12 months post-closure and be substantially accretive starting in 2027. The company has previously sought to expand its rare disease portfolio, having acquired Inozyme Pharma earlier in 2025 for about $270 million.

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• “It’s an absolutely perfect fit with what BioMarin already does really well,” — Alexander Hardy, CEO of BioMarin Pharmaceutical

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• “analyst Olivia Brayer said the deal immediately adds to BioMarin’s top-line growth, “which has been a major focus for investors.” — Olivia Brayer, Analyst at Cantor Fitzgerald

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There are no significant discrepancies in the reported details of the acquisition across the sources. However, the exact timeline for regulatory approval remains unspecified, which could affect the anticipated closing date.

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This acquisition marks a significant step for BioMarin as it continues to solidify its position in the rare disease market, aiming for sustained growth and innovation in treatment options.

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