BioMarin reports Q3 EPS 30c, consensus 6c
Reports Q3 revenue $461.1M, consensus $454.55M. Vimizim Net Product Revenues increased by $40.2M, or 33%; Palynziq Net Product Revenues increased by $20.0M; Brineura Net Product Revenues increased by $9.9M; or 100%; Kuvan Net Product Revenues increased by $7.3M, or 6%; Naglazyme Net Product Revenues decreased by $8.7M, or 8%; Aldurazyme Net Product Revenues decreased $4.8M. CEO Jean-Jacques Bienaime said, "BioMarin is entering a stage that I believe will bring significant growth as we get closer to submitting marketing applications for valoctocogene roxaparvovec for severe hemophilia A and a pivotal data read-out for vosoritide for children with achondroplasia. These potential new products, combined with our strong base business and continued financial discipline, position us for significant growth and expansion beginning in the very near future. Later this quarter, both the U.S. and European marketing applications for valoctocogene roxaparvovec for severe hemophilia A will be submitted. If the applications are approved, we could potentially be launching the first approved gene therapy product in hemophilia A in the second half of 2020. We are also encouraged by the recent recommendation by the EMA to grant our request for accelerated assessment of valoctocogene roxaparvovec for severe hemophilia A. We are very pleased with the level of engagement we have had with global health authorities, as it aligns with our belief that gene therapy will be the next wave of innovation for treating people with severe hemophilia A."