BioMarin Pharmaceutical announced that France’s Ministry of Economics and Finance approved its proposed merger with Amicus Therapeutics on April 23, 2026, clearing a key regulatory hurdle and setting the stage for the transaction to close on April 27, 2026.
The definitive merger agreement, signed on December 19, 2025, values the deal at approximately $4.8 billion and offers Amicus shareholders $14.50 in cash per share, a premium over the company’s closing price. BioMarin will finance the transaction with a mix of cash on hand and roughly $3.7 billion of new debt, while Amicus shareholders approved the deal with 74.79% of eligible shares represented and 234,593,492 votes in favor.
Strategically, the merger brings together BioMarin’s enzyme‑therapy portfolio with Amicus’s high‑growth products. Galafold, which generated $458 million in sales in 2024 and grew 18% year‑over‑year, and the combined Pombiliti + Opfolda portfolio, which produced $78 million in the first nine months of 2025, will expand BioMarin’s commercial reach. BioMarin also gains U.S. rights to the investigational DMX‑200, a Phase 3 candidate for focal segmental glomerulosclerosis, and will hold U.S. exclusivity for Galafold through January 2037.
Investors reacted positively to the announcement, citing the strategic fit and the potential for accelerated revenue growth. BioMarin’s CEO Alexander Hardy said, "BioMarin's scale of operations, including our global commercial footprint and industry‑leading, in‑house manufacturing capabilities, make the combination of these companies an exceptional strategic fit." Ian T. Clark, who will become Chair of BioMarin’s Board, added, "We are entering the next phase of growth as a leading rare disease company operating at scale in 80 countries."
Financially, the merger is expected to be accretive to non‑GAAP diluted earnings per share in the first 12 months after closing and to raise BioMarin’s long‑term compound annual growth rate. The company’s strong balance sheet—cash exceeding debt and a current ratio of 5.21—provides the liquidity needed to support the transaction and future investments.
Overall, the approval marks BioMarin’s largest transaction to date, consolidating its position as a leader in the rare‑disease market and creating a more formidable entity capable of delivering a broader product platform and enhanced commercial reach across Europe and the United States.
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