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BioMarin Announces Third Quarter 2010 Financial Results
Date:10/28/2010

30, 2010 and a negative $1.4 million impact on Naglazyme sales in the nine months ended September 30, 2010.  Naglazyme revenues experience quarterly fluctuations due to the timing of distributor purchases in certain countries due to government ordering patterns. (2)

The quantity of commercial tablets dispensed to patients in the U.S., increased 3.7 percent in the third quarter of 2010 compared to the second quarter of 2010 and increased 29.7 percent in the third quarter of 2010 compared to the third quarter of 2009.(3)

A product for the treatment of Lambert Eaton Myasthenic Syndrome (LEMS) which was launched in the EU in April 2010.Three Months Ended September 30, Nine Months Ended September 30,20092010$ Change% Change 20092010$ Change% Change Aldurazyme revenue reported by Genzyme (4) $

40.3$

40.8$

0.51.2%$

116.4$

124.3$

7.96.8%Royalties due from Genzyme15.916.50.646.050.24.2Incremental (previously recognized) Aldurazyme product transfer revenue(1.3)-1.37.4(2.0)(9.4)Total Aldurazyme net product revenues (5)$

14.6$

16.5$

1.9$

53.4$

48.2$

(5.2)(1)

Changes in foreign currency rates caused a decrease to Aldurazyme sales by Genzyme of $1.5 million in the three months ended September 30, 2010 and a decrease to Aldurazyme sales by Genzyme of $0.6 million for the nine months ended September 30, 2010.  In the third quarter of 2010, the number of Aldurazyme vials shipped increased 5.1 percent over the third quarter of 2009.(2)  

To the extent units shipped to third party customers by Genzyme exceed BioMarin inventory transfers to Genzyme, BioMarin records 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  transf
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SOURCE BioMarin Pharmaceutical Inc.
Copyright©2010 PR Newswire.
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