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Mar 31, 2025
BioMarin Q1 2025 Earnings Report
BioMarin reported strong revenue and profit growth in Q1 2025, driven by VOXZOGO and Enzyme Therapies.
Key Takeaways
BioMarin delivered a solid Q1 2025 performance, with revenue up 15% and net income more than doubling year-over-year. VOXZOGO saw strong global demand, and the company benefited from operational efficiency following its 2024 strategic review.
Revenue by Segment
Forward Guidance
BioMarin reaffirmed its full-year 2025 guidance, expecting revenue between $3.1B and $3.2B and continued growth in profitability.
Positive Outlook
- VOXZOGO full-year revenue expected between $900M and $950M
- Continued global expansion and adoption of VOXZOGO
- Strong PALYNZIQ performance supports Enzyme Therapies growth
- Ongoing cost efficiency from 2024 transformation program
- Advancements in pipeline including VOXZOGO, BMN 351, and BMN 333
Challenges Ahead
- Uneven international ordering patterns may affect VOXZOGO revenue timing
- KUVAN revenues continue to decline due to generic competition
- Higher tax provisions due to increased taxable income
- U.S. VOXZOGO growth expected more in H2 2025
Historical Earnings Impact
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Avg. Return Before/After Earnings
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