Amicus Therapeutics, Inc.

Amicus Therapeutics, Inc. is a U.S.-based biotechnology company focused on medicines for rare diseases, with commercial franchises in Fabry disease and late-onset Pompe disease. Its marketed products include Galafold® (migalastat), an oral therapy for Fabry patients with amenable genetic variants, and the two-component Pompe regimen Pombiliti® + Opfolda® (cipaglucosidase alfa-atga/miglustat). The company sells globally through specialty distributors and pharmacies, with reimbursement and government payors playing a central role in access and pricing. Amicus also expands its pipeline via partnering and licensing, including an exclusive U.S. commercialization license for Dimerix’s Phase 3 candidate DMX-200 for FSGS and other indications.

6,3 %

88,5 %

−4,3 %

+20,0 %

2.84

1.88

— Amicus Therapeutics, Inc.
%
Galafold (Fabry disease)80% Oral precision therapy for Fabry patients with amenable genetic variants, sold commercially across multiple countries.
Pombiliti + Opfolda (Pompe disease)17% Two-component therapy for adults with late-onset Pompe disease, with approvals and reimbursement expansion underway globally.
Pipeline and partnered programs (e.g., DMX-200)3% Clinical-stage and in-licensed assets where Amicus funds development/regulatory work and prepares for commercialization in targeted markets.

Amicus’s direct customers are typically specialty distributors and pharmacies that purchase Galafold® and Pombiliti® +...

  • Specialty distributors and pharmaciesprimary

    Buy Galafold and Pombiliti + Opfolda for downstream dispensing; central to order flow and channel inventory dynamics.

  • Specialist prescribers and treatment centersprimary

    Drive initiation and switching decisions based on efficacy, safety, convenience, and clinical guidelines for Fabry/Pompe.

  • Third-party payors and government authoritiesprimary

    Approve coverage, set reimbursement terms, and generate rebates/discounts that materially affect net product sales.

  • Patients, patient organizations, and foundationssecondary

    Influence diagnosis journeys, therapy selection, and affordability support; important for rare-disease adoption and persistence.

Amicus commercializes Galafold® in over 40 countries, including the United States, European Union, United Kingdom, and...

  • Galafold approved across U.S., E.U., U.K., Japan and 40+ countries
  • Pombiliti + Opfolda approved in U.S., E.U., U.K., CA, AU, CH, JP
  • Reimbursement expansion in multiple E.U. countries supports uptake
  • Supply chain relies on global contract manufacturers under cGMP
  • Second Pombiliti facility under development in Dundalk, Ireland (WuXi)
  • Multi-jurisdiction regulation (FDA/EMA/PMDA) shapes timelines and costs

Amicus is prioritizing growth of its two commercial franchises by expanding geographic reach, securing reimbursement,...

01
Broaden Fabry and Pompe commercial franchises globallyshort-term

Rare-disease revenue growth depends on approvals, reimbursement, and patient identification across countries.

02
Add pipeline value through business development and licensingmedium-term

In-licensed or acquired assets can diversify beyond two products and extend growth runway in rare/orphan diseases.

03
Strengthen manufacturing resilience via qualified supply optionsmedium-term

Outsourced manufacturing and regulatory approvals can constrain supply and limit commercial execution if not de-risked.

Amicus’s revenue base is concentrated in two rare-disease products, so competitive entries, label changes, or...

high

Regulatory approval delays or failure for second Pombiliti facility (Dundalk, Ireland)

Although EMA approved, the facility may not be approved by FDA/other regulators, potentially delaying supply resilience and requiring additional capital.

Scope
Manufacturing and regulatory execution; reliance on WuXi and facility readiness
Materiality
high
high

Distributor dependency and potential disruption of commercialization

Distributors may underinvest, face financial/compliance issues, or terminate/expire arrangements, interrupting sales and reducing revenue.

Scope
Channel execution across geographies
Materiality
high
medium

Cybersecurity incidents impacting Amicus or key vendors/manufacturers

Attacks could lead to data loss, ransomware costs, operational disruption, and reputational harm; supply-chain incidents can have similar effects.

Scope
IT systems and third-party supply chain
Materiality
medium
medium

Failure to complete the pending transaction with BioMarin

Non-completion within expected timeframe or at all could adversely affect business, financial results, and operations.

Scope
Corporate transaction execution
Materiality
medium
Product revenue recognition and variable consideration estimates
Affects reported net revenue, gross-to-net adjustments, and period comparability
Foreign exchange remeasurement
Introduces non-operating volatility that can obscure underlying operating trends

: 11/08/2026