BioMarin (BMRN) Jumps 17.7% on $5-Billion Merger with Amicus

We precocious published 10 Firms successful the Limelight. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is 1 of the champion performers connected Friday.

BioMarin Pharmaceutical extended its winning streak to a 3rd consecutive time connected Friday, surging 17.71 percent to decorativeness astatine $61.15 apiece, arsenic investors took bosom from its enlargement initiatives pursuing the acquisition of Amicus Therapeutics for astir $5 billion.

In a statement, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) said that it entered into a definitive statement to get Amicus Therapeutics successful an all-cash transaction astatine a terms of $14.50 apiece, oregon a 33 percent premium implicit the latter’s closing terms connected Thursday, December 18.

The transaction volition beryllium funded done a operation of currency connected manus and astir $3.7 cardinal of non-convertible indebtedness financing.

The acquisition would enactment its commercialized portfolio with the summation of Galafold, an oral attraction for Fabry disease, and Pombiliti + Opfolda, a two-component therapy for Pompe disease.

Upon completion of the transaction, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) expects to summation its semipermanent CAGR done 2030, with some treatments having generated combined nett merchandise revenues of $599 cardinal successful the past twelvemonth alone.

“Immediately upon close, this transaction is expected to accelerate BioMarin’s gross maturation and fortify our fiscal outlook, delivering important worth to patients, employees and stockholders. The transaction is expected to beryllium accretive to Non-GAAP Diluted EPS successful the archetypal 12 months pursuing close,” said BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) President and CEO Alexander Hardy.

While we admit the imaginable of BMRN arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.