As big as some of the other industry veterans, BioMarin was founded in the 90’s boom in Biotech in San Rafaele, California. The deal itself is entirely based on rumor and anonymous sources, originally appearing on the blog Betaville.
Nonetheless, after a similar move was also made by Roche in 2013 (up to a value of $15Bn!), the markets have still seen over a 10% jump in BioMarin’s stocks.
This is slightly surprising, as although 2016 was predicted to be a fortuitous year for the company, the pipeline and product development isn’t as strong as it could be.
In early 2015, BioMarin also acquired the Dutch biotech ProSensa in an impressive $840M, so rights to their proprietary exon-skipping RNA technology would also pass onto Roche. ProSensa’s tech also applications in neuromuscular diseases,