BioMarin’s Amicus Acquisition: Leveraging Rare-Disease Assets and IP Extension to Drive Blockbuster Growth and Support a Buy Rating

Yun Zhong, an analyst from Wedbush, maintained the Buy rating on BioMarin Pharmaceutical. The associated price target remains the same with $94.00.

Yun Zhong has given his Buy rating due to a combination of factors related to BioMarin’s strategic acquisition of Amicus Therapeutics and the expected financial impact. The deal immediately broadens BioMarin’s rare-disease portfolio with two commercial assets, Galafold for Fabry disease and Pombiliti + Opfolda for late-onset Pompe disease, both of which management believes can be scaled using BioMarin’s existing global commercial platform. The company expects the transaction to enhance revenue growth right away and to add meaningfully to non-GAAP earnings per share within the first year post-closing, with even stronger contribution from 2027 onward. Galafold’s recent intellectual property settlement, which extends its U.S. market exclusivity into 2037, underpins a long revenue runway and supports BioMarin’s view that each acquired product can ultimately reach blockbuster-level annual sales.

At the same time, the early commercial stage of Pombiliti + Opfolda presents what management views as a timely entry into a growing Pompe market that may be larger than currently diagnosed, given under-recognition of the disease. While the pivotal trial did not demonstrate overall superiority to the existing standard of care on its primary endpoint, the regimen showed a statistically meaningful benefit on a key secondary lung function measure, supporting a differentiated clinical profile against entrenched enzyme replacement therapies, including Sanofi’s offerings. Zhong believes that BioMarin’s commercial reach, combined with these clinical attributes and the extended exclusivity for Galafold, positions the company for faster top-line expansion and improved profitability. On balance, the acquisition is seen as a value-creating use of capital that strengthens BioMarin’s growth outlook, underpinning the Buy recommendation despite the execution requirements associated with integrating and maximizing the new assets.

In another report released on December 3, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $62.00 price target.