BioMarin Closes $4.8 Billion Amicus Deal, Adds Galafold and Pombiliti

Context BioMarin, a NASDAQ‑listed biotech, focuses on therapies for rare genetic disorders. Amicus Therapeutics markets two approved drugs and holds U.S. rights to a Phase 3 candidate for a kidney condition. The deal brings those assets under BioMarin’s full ownership.

Key Facts - Amicus shares were bought for $14.50 each in cash, valuing the equity at about $4.8 billion. - Funding came from a $2.0 billion Term Loan B facility, an $800 million Term Loan A facility, a $600 million revolving credit line that can be drawn as needed, the company’s existing 5.5 % senior notes due 2034 (debt securities), and cash on hand. - The term loans were drawn at closing; the revolver remains undrawn for working capital. - BioMarin now markets Galafold for Fabry disease and Pombiliti + Opfolda for Pompe disease, and holds U.S. rights to DMX‑200, a drug in late‑stage clinical testing for focal segmental glomerulosclerosis.

What It Means The acquisition expands BioMarin’s commercial rare‑disease lineup, potentially boosting near‑term revenue from Galafold and Pombiliti. Added debt increases leverage; the credit agreement caps total net leverage at 3.5 × EBITDA (earnings before interest, taxes, depreciation and amortization) (temporarily 4.0 × for acquisition scenarios) and requires interest coverage of at least 3.0 ×.

Investors will watch how the combined portfolio affects sales growth, margins and cash generation. The company plans to update FY 2026 guidance on its May 4, 2026 earnings call, which will clarify the financial impact of the deal.