1. BMRN revenue grew by 16% YoY in Q4 2024. 2. Net income increased dramatically, rising 525% YoY in Q4. 3. Strong sales of VOXZOGO contributed to significant revenue growth. 4. 2025 forecasts indicate further revenue and profitability growth. 5. PALYNZIQ expansion is planned for 2025, boosting market potential.
The substantial revenue growth and strong outlook indicate healthy performance. Similar past results led to stock price increases.
The financial results and growth forecasts are crucial for BMRN's performance outlook. Improved financial health can significantly influence investor sentiment and stock price adjustments.
The expected growth initiatives and pipeline advancements should drive sustained performance. Historical trends show long-term strategies positively impacting stock values.
4Q 2024 Total Revenues of $747 million (+16% Y/Y and +21% at Constant Currency Y/Y); FY 2024 Total Revenues of $2.85 billion (+18% Y/Y and +22% at Constant Currency Y/Y)
Conference Call and Webcast Scheduled Today at 4:30 p.m. ET
SAN RAFAEL, Calif., Feb. 19, 2025 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced financial results for the fourth quarter and full year ended December 31, 2024.
"Our operational transformation and strong financial execution in 2024 is the first step in BioMarin's ambitious multiyear growth plan," said Alexander Hardy, President and Chief Executive Officer of BioMarin. "We begin 2025 ready to build on our leadership in treating genetically defined conditions and deliver breakthrough medicines to the patients we serve. This year, we expect a number of innovative pipeline candidates to advance, including BMN 351 for Duchenne Muscular Dystrophy, and BMN 333 for multiple skeletal conditions, that will yield early clinical data read-outs, as well as results from the Phase 3 PALYNZIQ® study for the treatment of adolescents with phenylketonuria between the ages of 12 and 17. We plan to submit applications to expand the age eligibility in the United States and Europe in the second half of 2025, should the PALYNZIQ data be supportive."
Mr. Hardy continued, "We expect 2025 to be another year of strong execution and growth in our Skeletal Conditions business unit, led by the continued global expansion of VOXZOGO for achondroplasia. Across our Enzyme Therapies, we are implementing new initiatives to reach an even greater number of patients around the world. In addition to this commercial performance, we intend to execute on our business development strategy as well as advance five new VOXZOGO indications within our CANOPY clinical program. In summary, we expect continued high performance as we benefit from BioMarin's revamped corporate strategy and operating model in 2025 and beyond."
| Three Months Ended December 31 | Twelve Months Ended December 31 |
|---|---|
| 2024 | 2023 |
| % Change | $747 |
GAAP Net Income: $125 million (525% Y/Y)
BioMarin is a global biotechnology company dedicated to translating the promise of genetic discovery into medicines that make a profound impact on the life of each patient. The San Rafael, California-based company, founded in 1997, has a proven track record of innovation with eight commercial therapies and a strong clinical and preclinical pipeline. Using a distinctive approach to drug discovery and development, BioMarin pursues treatments that offer new possibilities for patients and families around the world navigating rare or difficult to treat genetic conditions. To learn more, please visit www.biomarin.com.
This press release and the associated conference call and webcast contain forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including, without limitation, statements about: future financial performance, including the expectations of Total Revenues, Non-GAAP Operating Margin percentage, Non-GAAP Diluted EPS and Operating Cash Flow for, in certain instances, the full-year 2025 and future periods, as well as double-digit revenue and profitability growth in 2025, and the underlying drivers of those results, such as the revenue opportunity represented by treatments for Skeletal Conditions, namely VOXZOGO, the expected demand and continued growth potential of BioMarin's Enzyme Therapies portfolio, including PALYNZIQ...
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SOURCE BioMarin Pharmaceutical Inc.