Business
BioMarin Announces Strong Second Quarter 2023 Results and Record Breaking Revenues for the First Half of 2023, Including 13% Year Over Year Growth Year-to-date
VOXZOGO® Growth Continued in the Second Quarter Driven by Global Demand Resulting in Increased Full Year 2023 GuidancePivotal Program with VOXZOGO in New,
About this update from Biomarin Pharmaceutical Inc.
[{"type":"text","content":"VOXZOGO® Growth Continued in the Second Quarter Driven by Global Demand Resulting in Increased Full Year 2023 GuidancePivotal Program with VOXZOGO in New, Potential Second Indication, Hypochondroplasia, to Begin in the Fourth Quarter of 2023U.S. Approval of ROCTAVIAN™ Received in the Second Quarter and Commercial Launch Underway; Commercial Launch in Europe Making ProgressFinancial Highlights (in millions of U.S. dollars, except per share data, unaudited)\nThree Months Ended\nJune 30,\nSix Months Ended\nJune 30,\n2023\n2022\n% Change\n2023\n2022\n% Change\nTotal Revenues\n$ 595.3\n$ 533.8\n12 %\n$ 1,191.7\n$ 1,053.2\n13 %\nTotal Enzyme Product Revenues (1)\n$ 420.8\n$ 425.7\n(1) %\n$ 868.8\n$ 852.3\n2 %\nVIMIZIM® Net Product Revenues\n$ 177.4\n$ 173.3\n2 %\n$ 366.6\n$ 356.4\n3 %\nVOXZOGO® Net Product Revenues\n$ 113.3\n$ 34.4\n229 %\n$ 201.2\n$ 54.0\n273 %\nNAGLAZYME® Net Product Revenues\n$ 90.1\n$ 115.8\n(22) %\n$ 213.1\n$ 243.8\n(13) %\nPALYNZIQ® Net Product Revenues\n$ 74.9\n$ 61.6\n22 %\n$ 137.2\n$ 116.5\n18 %\nKUVAN® Net Product Revenues\n$ 50.6\n$ 57.6\n(12) %\n$ 101.1\n$ 116.9\n(14) %\nALDURAZYME® Net Product Revenues\n$ 40.3\n$ 37.3\n8 %\n$ 74.7\n$ 61.7\n21 %\nBRINEURA® Net Product Revenues\n$ 38.1\n$ 37.7\n1 %\n$ 77.2\n$ 73.9\n4 %\nGAAP Net Income (2)\n$ 56.0\n$ 27.7\n$ 106.9\n$ 148.5\nNon-GAAP Income (3)\n$ 105.2\n$ 76.8\n$ 221.0\n$ 175.7\nGAAP Diluted Earnings per Share (EPS)\n$ 0.29\n$ 0.15\n$ 0.56\n$ 0.79\nNon-GAAP Diluted EPS (4)\n$ 0.54\n$ 0.41\n$ 1.14\n$ 0.93\n \nJune 30,2023\nDecember 31,2022\nTotal cash, cash equivalents & investments\n$ 1,556.7\n$ 1,625.4\n(1)\nEnzyme-based products include ALDURAZYME, BRINEURA, NAGLAZYME, PALYNZIQ, and VIMIZIM.\n(2)\nGAAP Net income in the first half of 2022 included a $89.0 million gain, net of taxes, related to the sale of the Rare Pediatric DiseasePriority Review Voucher (PRV) the Company received from the U.S. Food and Drug Administration (FDA) in connection with U.S. approvalof VOXZOGO.\n(3)\nNon-GAAP Income is defined by the Company as reported GAAP Net Income, excluding amortization expense, stock-based compensationexpense, contingent consideration, and, in certain periods, certain other specified items. The Company also includes a Non-GAAPadjustment for the estimated income tax impact of reconciling items. Refer to Non-GAAP Information beginning on page 9 of this pre...