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Mar 31, 2020
BioMarin Q1 2020 Earnings Report
BioMarin's first quarter showcased a 25% revenue surge, driven by robust product sales and strategic advancements in regulatory submissions.
Key Takeaways
BioMarin announced a 25% increase in total revenue, reaching $502.1 million in the first quarter of 2020. The company experienced growth across its product portfolio, notably Naglazyme, Palynziq, Kuvan and Brineura. GAAP net income was $81.4 million, a significant improvement from the previous year's net loss. The company is reducing full year revenue guidance by 5% due to COVID-19 impacts.
Total revenue increased by 25% to $502.1 million.
GAAP Net Income was $81.4 million, a significant increase from $(56.5) million in the same period last year.
FDA accepted the U.S. Marketing Application for Valoctocogene Roxaparvovec for Severe Hemophilia A under Priority Review.
Marketing applications planned for Vosoritide to treat children with Achondroplasia in the third quarter of 2020 in both the U.S. and Europe.
Revenue by Segment
Forward Guidance
Due to the uncertainty surrounding the COVID-19 pandemic and the potential impact on its business, BioMarin is reducing its guidance for Total Revenues and Net Product Revenues for Vimizim, Naglazyme and Palynziq for 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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