BioMarin up after agreeing to buy drug developer in deal worth up to $490 million

BioMarin Pharmaceutical

18/08/2026 15:16

** Shares of drugmaker BioMarin Pharmaceutical BMRN.O rise 1.8% to $67.8
** Co says it has agreed to acquire privately held drug developer Alesta Therapeutics to gain access to ALE1, an experimental treatment for the rare genetic disorder hypophosphatasia
** BioMarin will pay $275 million upfront and up to $215 million in additional payments tied to certain development and regulatory milestones
** Alesta will spin out all non-ALE1 assets before the transaction closes
** BioMarin intends to fund the acquisition with cash on hand
** Excluding the upfront consideration, the transaction is expected to have a modestly dilutive impact on BioMarin's 2026 financial results
** BioMarin expects the acquisition to close in the current quarter
** Including the session's moves, stock up 13.1% YTD

 (Reporting by Siddhi Mahatole)
 ((siddhi.mahatole@thomsonreuters.com))