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BioMarin Announces Third Quarter 2011 Financial Results
Date:10/27/2011

s activities related to Kuvan; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission, including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's 2010 Annual Report on Form 10-K, and the factors contained in BioMarin's reports on Form 10-Q. Stockholders are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.

BioMarin®, Naglazyme®, Kuvan® and Firdapse™ are registered trademarks of BioMarin Pharmaceutical Inc.

Aldurazyme® is a registered trademark of BioMarin/Genzyme LLC.

BIOMARIN PHARMACEUTICAL INC.CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars, except share and per share amounts)September 30,
2011December 31,
2010 (1)(Unaudited)ASSETSCurrent assets:Cash and cash equivalents$

71,254$

88,079Short-term investments153,120186,033Accounts receivable, net (allowance for doubtful accounts: $839 and $63, respectively)107,05786,576Inventory115,628109,698Other current assets39,96533,874Total current assets487,024504,260Investment in BioMarin/Genzyme LLC1,1681,082Long-term investments145,640128,171Property, plant and equipment, net266,190221,866Intangible assets, net100,780103,648Goodwill51,54353,364Long-term deferred tax assets229,172236,017Other assets13,55914,215Total assets$

1,295,076$

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

83,254$

83,844Total current liabilities83,25483,844Convertible debt348,339377,521Other long-term liabilities88,94484,001Total liabilities520,537545,366Stockholders’ equity:Common stock, $0.001 par value
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SOURCE BioMarin Pharmaceutical Inc.
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