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BioMarin Announces First Quarter 2008 Financial Results
Date:4/29/2008


First Quarter Profit Driven by Strong Revenue Growth Conference Call and Webcast to Be Held Today at 5:00 p.m. ET (22:00 CET)

Financial Highlights

Item Q1 2008 (millions) Q1 2007 Comparison

Total BioMarin Revenue $60.4 164.5% increase

Naglazyme Net Product Revenue $27.7 50.5% increase

Aldurazyme (net sales by Genzyme) $36.8 37.3% increase

Aldurazyme (revenue to BioMarin) $24.1 NA

Kuvan Net Product Revenue $5.8 NA

GAAP Net Income (loss) $1.7, $0.02 ($9.3),($0.10)

per share per share

Non-GAAP Net Income (loss) $6.2, $0.06 ($5.7), ($0.06)

per share per share

2008 Guidance

Item Updated Guidance Previous Guidance

(millions) (millions)

Total BioMarin Revenue $271 to $316 $255 to $306

Total Product Revenue $230 to $275 $213 to $264

Naglazyme Net Product Revenue $115 to $125 $105 to $116

Aldurazyme Net Product Sales

by Genzyme Unchanged $135 to $145

Aldurazyme Net Product Revenue

to BioMarin $70 to $80 $68 to $78

Kuvan Net Product Revenue $45 to $70 $40 to $70

Net Income (GAAP)* $28 to $40 $20 to $40

Net Income (non-GAAP)* $52 to $67 $47 to $67

* Assumes that the $30 million milestone for EU Kuvan approval will be

earned in 2008

NOVATO, Calif., April 29 /PRNewswire-FirstCall/ -- BioMarin Pharmaceutical Inc. (Nasdaq and SWX: BMRN) today announced financi
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SOURCE BioMarin Pharmaceutical Inc.
Copyright©2008 PR Newswire.
All rights reserved

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Related biology technology :

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