BioMarin Achieves Record Q1 Sales Driven By Recently Approved Achondroplasia Therapy

BioMarin Pharmaceutical Inc's BMRN Q1 sales reached $519 million, up 7% Y/Y, beating the consensus of $507.52 million.
BioMarin said that the increase was achieved "despite continued erosion of the U.S. Kuvan market."
Kuvan is indicated for phenylketonuria. Kuvan still brought in $59.3 million but down from $70.8 million a year ago.
The company reported EPS of $0.63 compared to $0.09 a year ago.
Newly approved Voxzogo for achondroplasia (dwarfism) reported sales of 19.7 million.
284 children were being treated with Voxzogo as of March 31, including 201 children in countries outside of the U.S. and 83 children within the U.S.," he said, adding that "[a]n estimated additional 53 children were in process in the United States as of April 15."
Also See: BioMarin Sells Priority Review Voucher For $110M.
BioMarin has upped its full-year Voxzogo sales forecast to $100 million - $125 million. The company previously expected sales of $90 million - $115 million from the med.
The company expects FY revenues of $2.05 billion - $2.15 billion.
Looking ahead, the company hopes to receive Voxzogo approvals in Australia and Japan later this year.
Price Action: BMRN shares are down 0.46% at $79.94 during the market session on the last check Thursday.

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