European Investor
05 Aug 2025, 18:25
BioMarin Posts Strong Q2 2025 Results, Raises Full-Year Guidance
BioMarin Pharmaceutical (NASDAQ: BMRN) reported Q2 2025 revenue of $825 million, up 16% year-over-year, and GAAP EPS of $1.23, more than double last year’s figure. Non-GAAP EPS was $1.44, up 50%. The company also raised full-year guidance for revenue, operating margin, and EPS.
Key Highlights:
• VOXZOGO revenue rose 20% Y/Y, driven by strong demand globally and new patients, particularly in the U.S.
• Enzyme therapies revenue grew 15% Y/Y, with strong performances from PALYNZIQ (+20%) and VIMIZIM (+21%).
• GAAP operating margin expanded to 33.5% (+16.6 pts Y/Y); non-GAAP margin at 39.9% (+8.7 pts Y/Y)
• Net income: $241 million GAAP, up 125% Y/Y; Non-GAAP income: $282 million, up 49% Y/Y
• Operating cash flow rose 55% Y/Y to $185 million; cash & investments totaled $1.9 billion
Pipeline and Strategic Developments:
• BMN 333 (long-acting CNP) showed strong Phase 1 results; pivotal pediatric study to begin 1H 2026
• Inozyme acquisition completed July 1, adding BMN 401 (enzyme therapy for ENPP1 Deficiency); data expected 1H 2026
• VOXZOGO expanding into additional indications (e.g., hypochondroplasia, Noonan, Turner syndromes)
• BMN 351 (Duchenne) and BMN 349 (AATD) progressing toward key milestones
• BMN 390 for PKU discontinued
CEO Alexander Hardy expressed confidence in BioMarin’s ability to deliver continued growth, innovation, and shareholder value, noting solid execution across business operations and a strengthened pipeline heading into 2026.
BioMarin Pharmaceutical (NASDAQ: BMRN) reported Q2 2025 revenue of $825 million, up 16% year-over-year, and GAAP EPS of $1.23, more than double last year’s figure. Non-GAAP EPS was $1.44, up 50%. The company also raised full-year guidance for revenue, operating margin, and EPS.
Key Highlights:
• VOXZOGO revenue rose 20% Y/Y, driven by strong demand globally and new patients, particularly in the U.S.
• Enzyme therapies revenue grew 15% Y/Y, with strong performances from PALYNZIQ (+20%) and VIMIZIM (+21%).
• GAAP operating margin expanded to 33.5% (+16.6 pts Y/Y); non-GAAP margin at 39.9% (+8.7 pts Y/Y)
• Net income: $241 million GAAP, up 125% Y/Y; Non-GAAP income: $282 million, up 49% Y/Y
• Operating cash flow rose 55% Y/Y to $185 million; cash & investments totaled $1.9 billion
Pipeline and Strategic Developments:
• BMN 333 (long-acting CNP) showed strong Phase 1 results; pivotal pediatric study to begin 1H 2026
• Inozyme acquisition completed July 1, adding BMN 401 (enzyme therapy for ENPP1 Deficiency); data expected 1H 2026
• VOXZOGO expanding into additional indications (e.g., hypochondroplasia, Noonan, Turner syndromes)
• BMN 351 (Duchenne) and BMN 349 (AATD) progressing toward key milestones
• BMN 390 for PKU discontinued
CEO Alexander Hardy expressed confidence in BioMarin’s ability to deliver continued growth, innovation, and shareholder value, noting solid execution across business operations and a strengthened pipeline heading into 2026.