Chardan analyst Gbola Amusa believes the probability of an acquisition of Amicus (FOLD) has increased materially after the company received a positive opinion from the European CHMP for oral migalastat as a first-line therapy for Fabry disease. Amicus is a potentially interesting target for Fabry disease competitors Sanofi (SNY) and Shire (SHPG), which are both "highly active" in rare disease M&A markets, Amusa tells investors. Citing a higher EU launch probability for migalastat, the analyst raised his price target for Amicus shares to $15 from $10. Using that base, standalone value of $15 per share, Amusa calculates that, given cost synergies, Amicus could be bought for over $22.50 by Sanofi or Shire and still be value accretive. The analyst keeps a Buy rating on Amicus shares.

Reports business EPS of EUR 1.78, down 17.6% reported and 7.4% at CER. Reports Q1 IRFS net sales EUR 10.464B, up 2.4%. Paul Hudson, Chief Executive Officer, commented: "We are off to an excellent start in 2024, delivering on our strategic priorities and a transformation of our portfolio of medicines and vaccines to become a development-driven, tech-powered biopharma company committed to serving patients and accelerating growth. Continued strong performance by Dupixent and our new launches drove sales growth of seven percent. In parallel, we are delivering on our promise of increased investments in our late-stage pipeline to fully realize its value for patients and Sanofi. We are awaiting regulatory decisions for Dupixent in COPD, a progressive disease with limited effective treatment options. If approved, Dupixent will be the first biologic treatment in COPD. With the robust progress in our portfolio transformation, we reaffirm our financial guidance for 2024."