Biogen (BMRN) announced on Friday its plan to acquire Amicus Therapeutics (FOLD) for approximately $4.8 billion, aiming to expand its footprint in the rare metabolic disease sector.
The deal values Amicus at $14.50 per share, representing a 33.1% premium over its latest closing price. Following the announcement, Amicus shares surged 30%, while Biogen’s stock rose nearly 5% in pre-market trading.
The acquisition will bolster Biogen’s product portfolio with several approved genetic disorder treatments from Amicus. These include Galafold, an oral medication for Fabry disease—a condition caused by genetic defects leading to fat accumulation in cells.
Amicus also markets Pompe disease therapy Pombiliti in combination with Opfolda. Pompe disease is a genetic disorder causing glycogen buildup in cells.
Additionally, Amicus holds U.S. rights to the investigational drug DMX-200 for focal segmental glomerulosclerosis, a kidney disease.
Biogen plans to fund the acquisition through existing cash reserves and approximately $3.7 billion in non-convertible debt financing. As of September 30, the company had about $2 billion in cash and investments.
Biogen expects the deal to close in Q2 2026, with immediate revenue contributions post-acquisition. The company projects adjusted earnings accretion within the first 12 months and significant profit growth starting in 2027.
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