BioMarin's First-Quarter Earnings & Sales Beat Estimates

Core Insights - BioMarin Pharmaceutical reported first-quarter 2025 adjusted earnings per share of $1.13, exceeding the Zacks Consensus Estimate of 94 cents, with a year-over-year earnings increase of 59% driven by higher product sales and lower operating expenses [1][2] - Total revenues reached $745 million, reflecting a 15% year-over-year increase on a reported basis and a 17% increase on a constant-currency basis, surpassing the Zacks Consensus Estimate of $737 million [2] Revenue Breakdown - Product revenues amounted to $734.6 million, a 15% increase year over year, primarily due to higher sales from Voxzogo, Palynziq, and Aldurazyme, partially offset by lower Kuvan sales [4] - Voxzogo generated $214 million in sales, a 40% year-over-year increase, although it slightly missed the Zacks Consensus Estimate of $215 million [5] - Enzyme Therapies sales rose 8% year over year to $484 million, driven by increased patient demand and large government orders [7] - Palynziq injection sales totaled $93 million, up 22% year over year, while Vimizim sales declined 3% to $188 million [8] Other Revenue Insights - Aldurazyme sales reached $49 million, a 40% increase year over year, attributed to favorable order fulfillment timing with Sanofi [9] - New gene therapy Roctavian generated $11 million in sales compared to $1 million in the previous year, reflecting a strategic focus on the U.S., Germany, and Italy [10] Financial Guidance - BioMarin expects total revenues for the full year to be in the range of $3.1-$3.2 billion, indicating a 10% year-over-year increase at the midpoint, with Voxzogo projected to contribute significantly [11] - Adjusted earnings per share are anticipated to be between $4.20-$4.40, suggesting a 22% growth over the previous year [12] Pipeline Developments - BioMarin completed enrollment in a pivotal program for Voxzogo in patients with hypochondroplasia, with top-line data expected next year [13] - The company is advancing Voxzogo in clinical studies for multiple short-stature conditions, with ongoing enrollment [14] - BMN 333, a long-acting formulation of CNP, is in a first-in-human study, with initial data expected by the end of this year [15]