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BioMarin Pharmaceutical acquires Amicus Therapeutics for $4.8 billion, a move that aims to reverse the company's fortunes and sent its stock up 17%.
Palo Alto Investors substantially increased its holding in PTC Therapeutics, acquiring an additional 456,144 shares. The $33.1 million investment elevates PTCT to the fund's second-largest position, signaling strong institutional conviction in the biopharmaceutical company's outlook.