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BioMarin Announces First Quarter 2011 Financial Results
Date:4/28/2011

>Contact:Investors

MediaEugenia Shen

Bob PurcellBioMarin Pharmaceutical Inc.

BioMarin Pharmaceutical Inc.(415) 506-6570

(415) 506-3267BIOMARIN PHARMACEUTICAL INC.CONSOLIDATED BALANCE SHEETSMarch 31, 2011 and 2010(In thousands of U.S. dollars, except share and per share amounts)March 31, 2011December 31,
2010 (1)ASSETS(unaudited)Current assets:Cash and cash equivalents$

90,782$

88,079Short-term investments161,799186,033Accounts receivable, net (allowance for doubtful accounts $969 and $63, respectively)106,19886,576Inventory110,067109,698Other current assets34,98433,874Total current assets503,830504,260Investment in BioMarin/Genzyme LLC1,1331,082Long-term investments141,378128,171Property, plant and equipment, net217,884221,866Intangible assets, net102,692103,648Goodwill53,05553,364Long-term deferred tax assets231,947236,017Other assets12,22714,215Total assets$

1,264,146$

1,262,623LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable and accrued liabilities$

75,986$

83,844Total current liabilities75,98683,844Convertible debt377,521377,521Other long-term liabilities89,79984,001Total liabilities543,306545,366Stockholders' equity:Common stock, $0.001 par value: 250,000,000 shares authorized at March 31, 2011 and December 31, 2010 : 110,873,519 and 110,634,465 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively111111Additional paid-in capital1,103,8851,090,188Company common stock held by Nonqualified Deferred Compensation Plan(1,733)(1,965)Accumulated other comprehensive income (loss)(5,787)188Accumulated deficit(375,636)(371,265)Total stockholders' equity720,840717,257Total liabilities and stockholders' equity$

1,264,146$

1,262,623(1)

December 31, 2010 balances were derived from the audited consolidated financial statements.BIOMARIN PHARMACEUTICAL INC.CONSOLIDATED
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