Amicus Therapeutics (FOLD) Stock: BioMarin Offers $4.8 Billion Buyout at 33% Premium

TLDR

• BioMarin Pharmaceuticals agreed to acquire Amicus Therapeutics for $4.8 billion in an all-cash deal at $14.50 per share
• The acquisition price represents a 33% premium to Amicus’ closing price on December 18
• TD Cowen downgraded Amicus stock from Buy to Hold and cut the price target from $20 to $14.50 following the buyout announcement
• The deal adds two lysosomal storage disorder treatments to BioMarin’s portfolio, including Galafold for Fabry disease and a Pompe disease treatment
• Amicus reported Q3 2025 earnings that beat expectations with EPS of $0.06 versus forecasted $0.03 and revenue of $169.1 million against projected $165.4 million

BioMarin Pharmaceuticals agreed to acquire Amicus Therapeutics for approximately $4.8 billion in cash. The deal values Amicus at $14.50 per share.

Amicus Therapeutics, Inc., FOLD

The acquisition announcement came on December 19. The offer price represents a 33% premium to Amicus’ closing price on December 18.

Following the announcement, TD Cowen downgraded Amicus stock from Buy to Hold. The firm also lowered its price target to $14.50 from $20.00.

The stock currently trades at $14.18, near its 52-week high of $14.36. Technical indicators show the stock in overbought territory.

The deal expands BioMarin’s presence in the rare disease market. Amicus brings two treatments targeting lysosomal storage disorders to the table.

Strategic Fit for BioMarin

TD Cowen called BioMarin a “logical acquirer” for Amicus. Both companies’ flagship treatments align with BioMarin’s rare enzyme replacement therapy business.

Galafold, Amicus’ oral medication for Fabry disease, forms a key part of the acquisition. BioMarin also secured intellectual property settlements with Aurobindo and Lupin.

These settlements protect Galafold’s intellectual property until 2037. The agreements provide long-term certainty for the treatment’s market exclusivity.

The deal also includes Amicus’ Pompe disease treatment called PomOp. BioMarin will gain U.S. rights to DMX-200, an investigational drug in Phase 3 trials for a rare kidney disease.

Recent Financial Performance

Amicus reported strong third-quarter 2025 results before the buyout announcement. The company posted earnings per share of $0.06, beating the $0.03 forecast.

Revenue came in at $169.1 million, surpassing the expected $165.4 million. The company operates with gross profit margins near 90%.

Analysts expect Amicus to become profitable this year. The strong financial performance was driven by robust sales of key products.

Strategic market expansion also contributed to the revenue growth. Amicus represented 2.7% of The Biotech Growth Trust PLC’s net asset value at the time of the announcement.

BioMarin expects the deal to boost revenue growth. The acquisition is projected to be accretive to non-GAAP diluted earnings per share within the first year after closing.

The companies expect to close the transaction in the second quarter of 2026. Neither company disclosed specific regulatory approvals required for completion.

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