BioMarin Pharmaceutical Inc. has completed its acquisition of Amicus Therapeutics in an all-cash transaction valued at approximately $4.8 billion. The deal, which was announced in December 2025, significantly expands BioMarin's leadership in the rare disease sector by integrating Amicus's key therapies. John Crowley, Chairman and CEO of Amicus Therapeutics, has been a prominent voice in the biotech industry, particularly concerning innovations and therapies for rare diseases.
The acquisition adds two marketed, high-growth products to BioMarin's portfolio: Galafold® (migalastat) for Fabry disease and Pombiliti® (cipaglucosidase alfa-atga) + Opfolda® (miglustat) for Pompe disease. These therapies generated $599 million in revenue over the past four quarters prior to the acquisition, according to BioMarin's announcement. BioMarin anticipates the transaction will accelerate its revenue growth and strengthen its financial outlook, becoming accretive to non-GAAP diluted earnings per share within the first 12 months post-close.
The strategic rationale behind the acquisition emphasizes BioMarin's aim to diversify its commercial offerings and leverage its global footprint to expand access to Amicus's medicines. Amicus Therapeutics, under Crowley's leadership, has been dedicated to developing novel treatments for genetically defined rare conditions. Crowley's personal connection to rare diseases, stemming from his children's diagnosis with Pompe disease, has driven his advocacy and the company's patient-centric mission.
The agreement, unanimously approved by both companies' boards, saw Amicus stockholders receive $14.50 per share. This represented a 33% premium to Amicus’s stock price at the time of the announcement. The integration of Amicus's pipeline, including the investigational DMX-200 for focal segmental glomerulosclerosis (FSGS), is expected to further enhance BioMarin's position in the rare disease market.
Industry analysts have largely viewed the acquisition as a strategic fit, though some firms like Jefferies and Leerink Partners downgraded Amicus stock to "Hold" following the announcement, reflecting the concluded acquisition outlook. The deal underscores a continuing trend of consolidation within the biotechnology sector as larger players seek to acquire specialized firms with established rare disease assets.
