BioMarin Pharmaceutical has announced its largest acquisition to date, agreeing to purchase Amicus Therapeutics for approximately 4.8 billion dollars in an all-cash deal that strengthens its leadership in rare disease treatments. The transaction, revealed on December 19, 2025, marks a significant step for the California-based biotech company as it accelerates revenue growth and bolsters its portfolio in lysosomal storage disorders.
Under the terms, BioMarin will pay 14.50 dollars per share for Amicus, representing a 33 percent premium to the stock’s closing price on December 18, 2025. The price also reflects a 46 percent premium to the 30-day volume-weighted average and a 58 percent premium to the 60-day average. Both companies’ boards unanimously approved the deal, with Amicus’ board recommending that its stockholders vote in favor. The acquisition is expected to close in the second quarter of 2026, subject to regulatory approvals, stockholder consent, and other standard conditions.
This move comes as BioMarin continues rebuilding momentum after a period of strategic reset. The company recently brought in experienced dealmaker James Sabry to lead business development efforts, and this transaction follows an earlier smaller acquisition. For Amicus, the deal provides immediate value to shareholders while allowing its innovative therapies to reach more patients through BioMarin’s global infrastructure and commercial expertise.
The acquisition adds two important marketed products to BioMarin’s lineup. Galafold, an oral therapy for Fabry disease, and the combination treatment Pombiliti plus Opfolda for Pompe disease, generated nearly 450 million dollars in revenue during the first nine months of 2025. These fast-growing assets complement BioMarin’s existing rare disease franchise and are projected to contribute meaningfully to revenue starting immediately after closing. Additionally, BioMarin gains rights to DMX-200, a late-stage candidate in phase 3 testing for focal segmental glomerulosclerosis, a rare kidney condition with high unmet need.
BioMarin CEO Alexander Hardy described the fit as “hand-in-glove,” highlighting the shared focus on developing transformative therapies for patients with serious rare conditions. The deal is expected to deliver cost synergies and support BioMarin’s long-term financial outlook, with plans to finance it through existing cash and about 3.7 billion dollars in non-convertible debt. The company aims to maintain leverage below 2.5 times gross within two years post-close, supported by strong cash flow generation.
Industry analysts view the transaction positively, noting that it expands BioMarin’s presence in high-value rare disease markets while adding commercial-stage products that can drive near-term growth. Amicus has built a strong reputation in the space, particularly with its oral Fabry treatment that offers a convenient alternative to traditional enzyme replacement therapies. The Pompe combination therapy has also shown promising results in addressing muscle weakness and respiratory issues associated with the disease.
For patients and the broader rare disease community, the combination brings hope for continued innovation and broader access to specialized treatments. BioMarin’s established global commercial network and manufacturing capabilities could help scale these therapies more effectively across different regions.
As the deal progresses toward closure, both organizations are focused on a smooth integration that preserves the scientific momentum behind Amicus’ pipeline. This strategic union reinforces BioMarin’s commitment to addressing complex genetic disorders and positions the combined entity as an even stronger player in the competitive rare disease landscape.
The announcement has already generated positive market reactions, with shares of Amicus rising sharply on the news. For BioMarin, the acquisition represents a bold investment in future growth at a time when demand for targeted rare disease therapies continues to rise worldwide.
This 4.8 billion dollar acquisition underscores the ongoing consolidation in biotech, where companies with complementary rare disease portfolios join forces to deliver greater impact for patients facing life-altering conditions. With closing anticipated in mid-2026, the industry will be watching closely to see how the integrated pipeline advances and benefits those who need these therapies most.
