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BioMarin Announces Third Quarter 2009 Financial Results
Date:10/28/2009

ter of 2008. The timing of inventory transfers to Genzyme reduced net product revenue reported by BioMarin in the third quarter of 2009. During the third quarter of 2009, BioMarin transferred less inventory to Genzyme compared to units shipped to third party customers by Genzyme, which resulted in a reduction in BioMarin net product revenue from the royalty payable to BioMarin by Genzyme. During the third quarter of 2008, Genzyme's Aldurazyme inventory levels increased, which resulted in BioMarin recorded net product revenue that was higher than the royalty earned on Genzyme third party sales. Net product revenue to BioMarin related to Aldurazyme was $53.4 million for the nine months ended September 30, 2009, compared to $58.1 million for the nine months ended September 30, 2008.

Net product revenue from Kuvan (sapropterin dihydrochloride) Tablets, a product for the treatment of phenylketonuria (PKU), was $21.7 million for the third quarter of 2009, compared to $13.8 million for the third quarter of 2008. Net product revenue from Kuvan for the nine months ended September 30, 2009 was $54.1 million, compared to net revenue of $31.6 million for the nine months ended September 30, 2008. The quantity of commercial tablets dispensed to patients in the U.S., the best metric to track true patient demand, increased 8.5 percent in the third quarter of 2009 compared to the second quarter of 2009.

2009 Guidance 

    Revenue Guidance ($ in millions)

    Item                           2009 Guidance       Previous 2009 Guidance
    Total BioMarin Revenues        $313 to $327        $311 to $336
    Total Net Product Revenues     $306 to $320        $304 to $329
    Naglazyme Net Product Revenue  $165 to $170        $165 to $175
    Kuvan Net Product Revenue      $72 to $76          $70 to $80
    Aldurazyme Net Product
     Revenue to BioMarin           Unchanged           $69 to $74


    Selected Income Statement Guidance ($ in millio
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SOURCE  BioMarin Pharmaceutical Inc.
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