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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2026
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On April 27, 2026, the Company completed its previously announced acquisition of Amicus, a publicly traded, global, biotechnology company for $14.50 per share in an all cash transaction for a total equity value of approximately $4.8 billion. In connection with the acquisition, the Company also repaid in full all outstanding loans, together with interest and all other amounts due in connection with such repayment, of Amicus for approximately $433.0 million. The acquisition is expected to strengthen the Company's commercial portfolio by adding two new treatments to its existing portfolio of medicines that target lysosomal storage diseases: GALAFOLD (migalastat), the first oral treatment for Fabry disease, and POMBILITI (cipaglucosidase alfa-atga) + OPFOLDA (miglustat), a two-component therapy for Pompe disease. In connection with the acquisition, the Company also received U.S. rights to DMX-200, a potential first-in-class investigational small molecule for the treatment of focal segmental glomerulosclerosis (FSGS), a rare fatal kidney disease in Phase 3 development. The transaction was financed through a combination of cash on hand and non-convertible debt financing. In connection with the acquisition, the Company obtained senior secured term loan facilities for $2.8 billion in aggregate principal and a new $600.0 million senior secured revolving credit facility. Borrowings under the term loan facilities and the 2026 revolving facility bear interest at the applicable interest rates specified in the governing credit agreement (the 2026 Credit Agreement). The 2026 Credit Agreement contains customary affirmative and negative covenants, including, among others, covenants that restrict the Company’s ability to incur additional indebtedness, create liens, make investments, pay dividends or make other restricted payments, dispose of assets, and enter into transactions with affiliates, in each case subject to exceptions set forth in the 2026 Credit Agreement. Upon entry into the senior secured term loan facility, the remaining Bridge Commitment was reduced from $2.8 billion to zero, and the Company recognized approximately $17.5 million of commitment fees that were deferred on the Condensed Consolidated Balance Sheets as of March 31, 2026. The accounting impact of this acquisition and the results of operations for Amicus will be included in the Company’s Consolidated Financial Statements beginning in the second quarter of 2026. The initial accounting for this acquisition is incomplete, pending identification and measurement of the assets acquired and liabilities assumed.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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