Business
BioMarin Announces Strong Third Quarter 2023 Results, Including Continued Profitability, and 15% Total Revenue Growth Year Over Year
• Full-year 2023 Total Revenues and Earnings Per Share Financial Guidance Narrowed; VOXZOGO® and ROCTAVIAN® Net Product Revenue Guidance Adjusted for
About this update from Biomarin Pharmaceutical Inc.
[{"type":"text","content":"• Full-year 2023 Total Revenues and Earnings Per Share Financial Guidance Narrowed; VOXZOGO® and ROCTAVIAN® Net Product Revenue Guidance Adjusted for Full-year 2023\n• VOXZOGO Now Approved for Children without Age Restrictions in the United States and for Children Aged 4 Months and Older in Europe\n• ROCTAVIAN Reimbursement Network On-track to Support Global Patient Access and Treatment in 2024 and Beyond; Final German and Italian Prices Expected in 2023; Over 100 Treatment Eligible Companion Diagnostic Tests Completed Globally\n• For Full-year 2024, BioMarin Expects Revenues to Approach $3 Billion\nFinancial Highlights (in millions of U.S. dollars, except per share data, unaudited)\nThree Months Ended\nSeptember 30,\nNine Months Ended\nSeptember 30,\n2023\n2022\n% Change\n2023\n2022\n% Change\nTotal Revenues\n$ 581.3\n$ 505.3\n15 %\n$ 1,773.0\n$ 1,558.5\n14 %\nTotal Enzyme Product Revenues (1)\n$ 401.5\n$ 388.0\n3 %\n$ 1,270.4\n$ 1,240.2\n2 %\nVIMIZIM® Net Product Revenues\n$ 158.9\n$ 155.5\n2 %\n$ 525.6\n$ 511.7\n3 %\nVOXZOGO Net Product Revenues\n$ 123.1\n$ 48.3\n155 %\n$ 324.2\n$ 102.3\n217 %\nNAGLAZYME® Net Product Revenues\n$ 108.9\n$ 99.5\n9 %\n$ 322.0\n$ 343.3\n(6) %\nPALYNZIQ® Net Product Revenues\n$ 78.9\n$ 66.2\n19 %\n$ 216.1\n$ 182.7\n18 %\nKUVAN® Net Product Revenues\n$ 42.9\n$ 57.0\n(25) %\n$ 144.0\n$ 174.0\n(17) %\nBRINEURA® Net Product Revenues\n$ 41.0\n$ 37.8\n8 %\n$ 118.2\n$ 111.7\n6 %\nALDURAZYME® Net Product Revenues\n$ 13.8\n$ 29.0\n(52) %\n$ 88.5\n$ 90.8\n(3) %\nROCTAVIAN Net Product Revenues\n$ 0.8\n$ —\nnm\n$ 0.8\n$ —\nnm\nGAAP Net Income (Loss) (2)\n$ 40.4\n$ (6.7)\n$ 147.3\n$ 141.8\nNon-GAAP Income (3)\n$ 89.5\n$ 52.0\n$ 310.5\n$ 227.6\nGAAP Diluted Earnings (Loss) per Share (EPS)\n$ 0.21\n$ (0.04)\n$ 0.77\n$ 0.75\nNon-GAAP Diluted EPS (4)\n$ 0.46\n$ 0.27\n$ 1.60\n$ 1.20\nSeptember 30,2023\nDecember 31,2022\nTotal cash, cash equivalents & investments\n$ 1,673.8\n$ 1,625.4\n(1)\nEnzyme Products include ALDURAZYME, BRINEURA, NAGLAZYME, PALYNZIQ, and VIMIZIM.\n(2)\nGAAP Net Income in the nine months ended September 30, 2022 included a $89.0 million gain, net of taxes, related to the sale of the Rare Pediatric Disease Priority Review Voucher (PRV) the company received from the U.S. Food and Drug Administration (FDA) in connection with U.S. approval of VOXZOGO.\n(3)\nNon-GAAP Income is defined by the company...