BioMarin Pharmaceuticals has announced its intent to purchase Amicus Therapeutics for an impressive $4.8 billion. This all-cash agreement values Amicus at $14.50 per share, reflecting a significant 33% premium over its closing price on December 18.
The acquisition, revealed on December 19, comes shortly after TD Cowen downgraded Amicus stock from a “Buy” to a “Hold” rating. The firm adjusted its price target downward from $20 to $14.50 following the acquisition news.
This strategic move by BioMarin aims to enhance its portfolio in the rare disease sector. The deal includes two key treatments from Amicus, specifically targeting lysosomal storage disorders: Galafold, an oral medication for Fabry disease, and a treatment for Pompe disease. BioMarin will also gain U.S. rights to DMX-200, an investigational drug currently in Phase 3 trials aimed at a rare kidney disease.
Amicus recently reported its Q3 2025 earnings, which surpassed market expectations. The company achieved earnings per share of $0.06, exceeding the anticipated $0.03, alongside revenue of $169.1 million, which slightly outperformed the expected $165.4 million. The firm maintains impressive gross profit margins near 90% and is anticipated to reach profitability this year, bolstered by strong sales of its flagship products.
Analysts are optimistic about the acquisition”s potential to drive revenue growth for BioMarin. The company expects the deal to be accretive to non-GAAP diluted earnings per share within the first year post-closure, which is projected for the second quarter of 2026. However, no specific regulatory approvals necessary for the transaction have been disclosed at this time.
With Amicus accounting for 2.7% of The Biotech Growth Trust PLC“s net asset value at the time of the announcement, this acquisition positions BioMarin strategically to expand its influence in the rare disease market, aligning both companies” missions in enzyme replacement therapies.
