BioMarin (BMRN) shares closed roughly 20% higher on Dec. 19 after announcing a $4.8 billion acquisition of Philadelphia-headquartered Amicus Therapeutics (FOLD). 

The all-cash transaction values each FOLD share at $14.50, a 33% premium over their previous close, indicating BioMarin’s commitment to expanding its footprint in the rare disease market. 

Despite the recent rally, BioMarin stock is down some 18% versus its year-to-date high set in late March.

Significance of the Amicus Deal For BioMarin Stock

BMRN shares soared on the Amicus announcement primarily because the acquisition immediately expands its commercial portfolio with two established treatments, Galafold and Pombiliti-Opfolda.

Both of those therapies address lysosomal storage disorder, where BioMarin already has expertise, and generated combined net product revenues of nearly $600 million last year. 

More importantly, Bloomberg Intelligence projects potential combined sales to reach $1.4 billion by the end of this decade. 

So, the deal diversifies BioMarin’s revenue base, reducing its reliance on Voxzogo, and provides it access to predictable cash flows that align closely with its existing capabilities.  

In short, the transaction will accelerate BMRN’s sales growth and offer defensive characteristics through established revenue streams. 

Could BMRN Shares Push Higher in 2026?

BioMarin shares are worth owning on the Amicus deal as it creates immediate value for investors. 

Management expects the transaction to be accretive to non-GAAP diluted earnings per share within the first 12 months following closure (expected in the second quarter of 2026). 

The FOLD agreement positions BMRN to leverage the enduring investment appeal of rare disease therapeutics where small patient populations enable strong pricing power and limited competition ensures market durability. 

All in all, BioMarin’s established commercial infrastructure and manufacturing expertise position it to maximize the potential of Amicus's proven therapies while maintaining multiple pathways for future value creation.

BioMarin Remains a ‘Buy’ Among Wall Street Firms

Wall Street analysts continue to favor BioMarin as well. 

The consensus rating on BioMarin shares currently sits at “Moderate Buy” with price objectives going as high as $122, indicating potential upside of another 100% through the end of 2026. 

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