As of December 31, 2008, BioMarin had cash, cash equivalents, and short-term investments totaling $559.8 million.
"We achieved our first profitable full year in 2008, with an increase of 144 percent in total revenue over 2007 driven by our three growing commercial products. We ended the year with a strong cash position and a promising development pipeline," said Jean-Jacques Bienaime, Chief Executive Officer of BioMarin. "In 2009, we look forward to the advancement of several programs including PEG-PAL for PKU and GALNS for MPS IVA. We also plan to continue making investments in growth opportunities as we look for attractive in- licensing or acquisition opportunities."
Net Product Revenue
Net product revenue from Naglazyme (galsulfase), an enzyme replacement therapy for mucopolysaccharidosis VI (MPS VI), was $36.5 million for the fourth quarter of 2008, an increase of 43.1 percent compared to Naglazyme net product revenue of $25.5 million for the fourth quarter of 2007. Net product revenue from Naglazyme for the year ended December 31, 2008 was $132.7 million, an increase of 53.9 percent from Naglazyme net product revenue of $86.2 million for the year ended December 31, 2007.
Net sales of Aldurazyme (laronidase), an enzyme replacement therapy for
mucopolysaccharidosis I (MPS I) recorded by Genzyme, were $37.6 million for
the fourth quarter of 2008, an increa
|SOURCE BioMarin Pharmaceutical Inc.|
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