Adquisición de Amicus de $4.8B por parte de BioMarin: un catalizador estratégico para el crecimiento a largo plazo en enfermedades raras

The acquisition of Amicus Therapeutics by BioMarin Pharmaceuticals for $4.8 billion in an all-cash transaction marks a pivotal moment in the rare disease therapeutics landscape. This move not only expands BioMarin's leadership in orphan drug development but also positions the company to capitalize on significant revenue synergies and portfolio diversification. By integrating Amicus' innovative pipeline and commercial capabilities, BioMarin is poised to strengthen its financial outlook while addressing unmet medical needs in underserved patient populations.

Strategic Fit in Rare Diseases

BioMarin's core strength lies in its expertise in enzyme replacement therapies (ERTs) for lysosomal storage disorders. Amicus' portfolio, including Galafold for Fabry disease and Pombiliti/Opfolda for Pompe disease, aligns seamlessly with this focus. According to a report by BioMarin, these therapies generated combined net product revenues of $599 million over the past four quarters, offering immediate revenue uplift. Analysts have emphasized the synergy between BioMarin's platform and Amicus' pipeline, noting that the deal "accelerates BioMarin's ability to deliver transformative therapies across rare diseases." The acquisition also adds DMX-200, a phase 3 candidate for focal segmental glomerulosclerosis (FSGS), a high-unmet-need condition affecting approximately 100,000 patients globally.

Revenue Synergies and Accretion

The financial rationale for the acquisition is compelling. BioMarin expects the deal to be immediately accretive to non-GAAP diluted earnings per share, with analysts projecting a 15-20% boost in 2026 revenue. This is driven by the addition of Amicus' U.S. exclusivity for Galafold, which extends through 2037 following the resolution of patent litigation. For context, BioMarin's existing portfolio in 2025 was heavily reliant on Voxzogo (achondroplasia), which accounted for 75% of total sales ($900–$935 million). The Amicus acquisition diversifies this revenue base, reducing exposure to single-product volatility while adding high-margin, premium-priced therapies.