BioMarin Q2 2023 Earnings Report

Reported strong results for the second quarter of 2023, achieving record-breaking revenues for the first half of the year, with a 13% year-over-year growth.

Key Takeaways

BioMarin Pharmaceutical Inc. announced strong second quarter 2023 results with total revenues of $595.3 million, a 12% increase compared to the same period in 2022. The company reached more children with VOXZOGO and received U.S. approval of ROCTAVIAN. BioMarin is focused on expanding VOXZOGO globally and treating the first ROCTAVIAN patients in the U.S. and Europe.

Total Revenues for the second quarter of 2023 were $595.3 million, an increase of 12% compared to the same period in 2022.

VOXZOGO growth continued in the second quarter driven by global demand resulting in increased full year 2023 guidance.

U.S. Approval of ROCTAVIAN received in the second quarter and commercial launch underway; Commercial Launch in Europe making progress

GAAP and Non-GAAP Net Income increased by $28.3 million and $28.4 million, respectively, for the second quarter of 2023 compared to the same period in 2022.