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BioMarin Announces Second Quarter 2011 Financial Results
Date:7/28/2011

percent in the second quarter of 2011 compared to the first quarter of 2011.

(3) A product for the treatment of Lambert Eaton Myasthenic Syndrome (LEMS) which was launched in the EU in April 2010. Three Months Ended June 30, Six Months Ended June 30, 20112010$ Change% Change 20112010$ Change% Change Aldurazyme revenue reported by Genzyme (4)

$

44.5

$

43.7

$

0.8

1.8%

$

87.2

$

83.5

$

3.7

4.4%Royalties due from Genzyme17.317.7(0.4)34.033.70.3Incremental (previously recognized) -(0.2)0.22.0(2.0)4.0Total Aldurazyme net product revenues (5)

$

17.3

$

17.5

$

(0.2)$

36.0

$

31.7

$

4.3(4)  Changes in foreign currency rates caused an increase to Aldurazyme sales by Genzyme of $3.1 million in the three months ended June 30, 2011 and an increase to Aldurazyme sales by Genzyme of $3.5 million for the six months ended June 30, 2011.  

(5)  To the extent units shipped to third party customers by Genzyme exceeded BioMarin inventory transfers to Genzyme, BioMarin will record a decrease in net product revenue from the royalty payable to BioMarin for the amount of previously recognized product transfer revenue.  If BioMarin inventory transfers exceed units shipped to third party customers by Genzyme, BioMarin will record incremental net product transfer revenue for the period.

2011 Guidance Revenue Guidance ($ in millions)Item

2011 Guidance

Previous 2011 GuidanceTotal BioMarin Revenues

$436 to $465

$422 to $452Total Net Product Revenues

$429 to $458

$416 to $446Naglazyme Net Product Revenue

$225 to $240

$211 to $225Kuvan Net Product Revenue

Unchanged

$112 to $120Aldurazyme Net Product Revenue to BioMarin

Unchanged

$79 to $83Firdapse Net Product Revenue

$13 to
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SOURCE BioMarin Pharmaceutical Inc.
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