BioMarin Expands Rare Disease Portfolio with Amicus Acquisition

BioMarin Pharmaceutical is acquiring Amicus Therapeutics in a deal valued at $4.8 billion. This acquisition aims to enhance BioMarin's presence in the rare enzyme disorders market. Amicus has two commercialized products, Galafold for Fabry disease and the Pombiliti and Opfolda regimen for Pompe disease, which collectively generated $448.9 million in revenue in the first nine months of 2025, marking an 18.5% increase from the same period in 2024.

BioMarin's CEO Alexander Hardy emphasized that the acquisition aligns with their business development strategy, allowing them to leverage their capabilities in rare enzyme therapies. The deal will provide BioMarin with immediate revenue growth, projected at $630 million in 2025 and potentially exceeding $1 billion by 2027.

The acquisition terms include a payment of $14.50 per Amicus share, which represents a 33% premium over the closing price prior to the announcement. BioMarin plans to finance the acquisition through cash on hand and about $3.7 billion in debt financing.

Both companies’ boards have approved the transaction, which is expected to close in the second quarter of 2026, pending Amicus shareholder and regulatory approval. This acquisition follows BioMarin's earlier $270 million purchase of Inozyme Pharma, further solidifying its focus on rare enzyme deficiencies.

Hardy stated the cash flow from Amicus will allow BioMarin to build financial reserves for future deals. The acquisition reflects ongoing trends in biotechnology consolidation, particularly in the rare disease sector, where companies are seeking to expand their therapeutic portfolios.