Amicus Therapeutics' 2025 Revenue Up 17% to $634.2M, Q2 2026 BioMarin Deal
Amicus Therapeutics reported 2025 revenue of $634.2 million, up 17% at CER, and ended the year with $293.5 million in cash and securities, a $43.6 million increase. Non-GAAP net income rose to $96.8 million from $73.9 million, and BioMarin’s $14.50 per-share takeover is expected to close in Q2 2026.
1. Full-Year 2025 Financial Results and Highlights
Amicus Therapeutics reported total revenues of $634.2 million for the year ended December 31, 2025, reflecting a 17% increase at constant exchange rates and a 24% rise in Q4 to $185.2 million (20% at CER). Total GAAP operating expenses increased 17% to $528.5 million and non-GAAP operating expenses rose 24% to $431.9 million.
2. Product Sales Growth
Net product revenues reached $634.2 million in 2025, driven by Galafold sales of $521.7 million (up 14% year-over-year, 12% at CER) and Pombiliti + Opfolda sales of $112.5 million (up 60%, 56% at CER). Fourth quarter sales of Galafold and the enzyme-substrate combination were $150.2 million and $35.0 million, respectively.
3. Profitability and Cash Position
Amicus reported a GAAP net loss of $27.1 million (-$0.09 per share) in 2025, improved from a $56.1 million loss in 2024. Non-GAAP net income rose to $96.8 million ($0.31 per share) from $73.9 million ($0.24 per share), while cash, cash equivalents and marketable securities increased to $293.5 million, up $43.6 million year-over-year.
4. BioMarin Acquisition Update
In December 2025, Amicus agreed to be acquired by BioMarin Therapeutics for $14.50 per share in an all-cash transaction valued at approximately $4.8 billion. The deal has received board approvals, HSR clearance, and is expected to close in Q2 2026 subject to customary regulatory and shareholder approvals.