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BioMarin Pharmaceutical (BMRN - Free Report) reported first-quarter 2025 adjusted earnings per share of $1.13, which beat the Zacks Consensus Estimate of 94 cents. Quarterly earnings rose 59% year over year, driven by higher product sales and lower operating expenses.
Total revenues were $745 million, which rose 15% year over year on a reported basis and 17% on a constant-currency basis. The top line beat the Zacks Consensus Estimate of $737 million. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar)
BMRN Stock's Performance
Shares of BioMarin rose nearly 2% in after-market trading yesterday, likely due to the better-than-expected results.
Year to date, the stock fell nearly 5% compared with the industry’s 2% decline.
Image Source: Zacks Investment Research
More on BMRN’s Q1 Earnings
Product revenues totaled $734.6 million, which rose 15% year over year on higher revenues from Voxzogo, Palynziq and Aldurazyme. This was partially offset by lower Kuvan sales.
Royalty and other revenues totaled $10.5 million, down 5% year over year.
Voxzogo — A Key Driver of BioMarin’s Top Line
Voxzogo, approved for achondroplasia, generated sales of $214 million, up 40% year over year, driven by strong demand across all marketed territories.
However, the drug’s sales marginally missed the Zacks Consensus Estimate and our model estimate of $215 million and $217 million, respectively. This was likely due to the uneven ordering patterns in ex-U.S. markets, where the majority of Voxzogo’s revenues are generated.
Sales Performance of BMRN’s Enzyme Therapies
Last year, the company updated its organizational structure and decided to consolidate revenues from its five products — Aldurazyme, Brineura, Naglazyme, Palynziq and Vimizim — under a single head, 'Enzyme Therapies.' Sales of this franchise rose 8% year over year to $484 million, driven by a combination of increased patient demand and the timing of large government orders across all regions.
Palynziq injection sales totaled $93 million in the quarter, up 22% year over year. Though the drug’s sales missed the Zacks Consensus Estimate of $97 million, it beat our model estimate of $86 million.
Vimizim sales declined 3% year over year to $188 million, which missed both the Zacks Consensus Estimate of $192 million and our model estimate of $190 million. Naglazyme sales rose 8% year over year to $114 million. Brineura added sales of $40 million, up 3%.
Product revenues from Aldurazyme totaled $49 million, up 40% year over year, likely due to the favorable timing of order fulfillment to Sanofi (SNY - Free Report) .
BioMarin signed a collaboration agreement with Sanofi’s subsidiary, Genzyme, for Aldurazyme. Sanofi, through Genzyme, is BMRN’s sole customer for Aldurazyme. The Sanofi subsidiary is responsible for marketing and selling Aldurazyme to third parties.
Other Revenues
New gene therapy, Roctavian, generated $11 million in sales compared with $1 million in the year-ago period. Sales likely rose as part of the company’s updated strategy to focus on three prioritized countries — the United States, Germany and Italy.
In the phenylketonuria (PKU) franchise, Kuvan revenues declined 31% to $25 million due to generic competition. The drug lost U.S. market exclusivity in late 2020.
BMRN’s 2025 Outlook
BioMarin reiterated its financial guidance for the full year. It expects to record total revenues in the range of $3.1-$3.2 billion, implying an increase of around 10% year over year at the midpoint. The company expects Voxzogo to be a significant contributor to the top line, forecasting the sales numbers to be in the $900-$950 million band.
Adjusted operating margin is expected to be between 32% and 33%.
BioMarin expects adjusted earnings per share to be in the range of $4.20-$4.40, suggesting 22% growth over last year’s level at the midpoint.
Per the company, this reaffirmed guidance reflects the impact of tariffs that have already been enacted but does not include the impact of future pharma tariffs. Notably, BioMarin has immaterial exposure to U.S. tariffs for China, Mexico, and Canada across its global supply-chain operations and product sales.
BMRN’s Recent Pipeline Updates
Last month, BioMarin completed enrollment in a pivotal registrational program on Voxzogo in patients with hypochondroplasia, a condition characterized by impaired bone growth. Top-line data from this study is expected next year. If data from this study is positive, the company plans to launch the drug in this indication in 2027.
BioMarin is also advancing Voxzogo in clinical studies for four other short-stature pathway conditions — idiopathic short stature, Noonan Syndrome, Turner Syndrome and SHOX deficiency. Enrollment in all these studies is currently ongoing.
Based on the success seen with Voxzogo as a C-type natriuretic peptide (CNP) analog, BioMarin decided to advance BMN 333, a long-acting formulation of CNP, as a potential treatment for multiple growth-related conditions but with an option for less frequent dosing. A first-in-human study on BMN 333 was initiated earlier this year, with initial data expected by this year’s end. The company also expects to report initial proof-of-concept data from an early-stage study on BMN 351, an oral therapeutic for liver disease associated with alpha-1 antitrypsin deficiency.
BMRN decided to discontinue development of BMN 370 in von Willebrand Disease after it did not meet the threshold for further development and commercialization in pre-clinical studies.
BMRN’s Zacks Rank
BioMarin currently carries a Zacks Rank #3 (Hold).
Estimates for argenx’s 2025 earnings per share (EPS) have increased from $11.14 to $12.62 over the past 60 days, while the same for 2026 has increased from $19.45 to $20.47. ARGX’s shares have gained 4% year to date.
argenx's earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 345.11%.
In the past 60 days, estimates for CytomX Therapeutics’ 2025 EPS have improved from a loss of 31 cents to a profit of 32 cents. During the same timeframe, estimates for 2026 loss per share have narrowed from 65 cents to 45 cents.
CytomX Therapeutics’ earnings beat estimates in three of the trailing four quarters and missed the mark once, delivering an average surprise of 180.70%.
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BioMarin's First-Quarter Earnings & Sales Beat Estimates
BioMarin Pharmaceutical (BMRN - Free Report) reported first-quarter 2025 adjusted earnings per share of $1.13, which beat the Zacks Consensus Estimate of 94 cents. Quarterly earnings rose 59% year over year, driven by higher product sales and lower operating expenses.
Total revenues were $745 million, which rose 15% year over year on a reported basis and 17% on a constant-currency basis. The top line beat the Zacks Consensus Estimate of $737 million. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar)
BMRN Stock's Performance
Shares of BioMarin rose nearly 2% in after-market trading yesterday, likely due to the better-than-expected results.
Year to date, the stock fell nearly 5% compared with the industry’s 2% decline.
Image Source: Zacks Investment Research
More on BMRN’s Q1 Earnings
Product revenues totaled $734.6 million, which rose 15% year over year on higher revenues from Voxzogo, Palynziq and Aldurazyme. This was partially offset by lower Kuvan sales.
Royalty and other revenues totaled $10.5 million, down 5% year over year.
Voxzogo — A Key Driver of BioMarin’s Top Line
Voxzogo, approved for achondroplasia, generated sales of $214 million, up 40% year over year, driven by strong demand across all marketed territories.
However, the drug’s sales marginally missed the Zacks Consensus Estimate and our model estimate of $215 million and $217 million, respectively. This was likely due to the uneven ordering patterns in ex-U.S. markets, where the majority of Voxzogo’s revenues are generated.
Sales Performance of BMRN’s Enzyme Therapies
Last year, the company updated its organizational structure and decided to consolidate revenues from its five products — Aldurazyme, Brineura, Naglazyme, Palynziq and Vimizim — under a single head, 'Enzyme Therapies.' Sales of this franchise rose 8% year over year to $484 million, driven by a combination of increased patient demand and the timing of large government orders across all regions.
Palynziq injection sales totaled $93 million in the quarter, up 22% year over year. Though the drug’s sales missed the Zacks Consensus Estimate of $97 million, it beat our model estimate of $86 million.
Vimizim sales declined 3% year over year to $188 million, which missed both the Zacks Consensus Estimate of $192 million and our model estimate of $190 million. Naglazyme sales rose 8% year over year to $114 million. Brineura added sales of $40 million, up 3%.
Product revenues from Aldurazyme totaled $49 million, up 40% year over year, likely due to the favorable timing of order fulfillment to Sanofi (SNY - Free Report) .
BioMarin signed a collaboration agreement with Sanofi’s subsidiary, Genzyme, for Aldurazyme. Sanofi, through Genzyme, is BMRN’s sole customer for Aldurazyme. The Sanofi subsidiary is responsible for marketing and selling Aldurazyme to third parties.
Other Revenues
New gene therapy, Roctavian, generated $11 million in sales compared with $1 million in the year-ago period. Sales likely rose as part of the company’s updated strategy to focus on three prioritized countries — the United States, Germany and Italy.
In the phenylketonuria (PKU) franchise, Kuvan revenues declined 31% to $25 million due to generic competition. The drug lost U.S. market exclusivity in late 2020.
BMRN’s 2025 Outlook
BioMarin reiterated its financial guidance for the full year. It expects to record total revenues in the range of $3.1-$3.2 billion, implying an increase of around 10% year over year at the midpoint. The company expects Voxzogo to be a significant contributor to the top line, forecasting the sales numbers to be in the $900-$950 million band.
Adjusted operating margin is expected to be between 32% and 33%.
BioMarin expects adjusted earnings per share to be in the range of $4.20-$4.40, suggesting 22% growth over last year’s level at the midpoint.
Per the company, this reaffirmed guidance reflects the impact of tariffs that have already been enacted but does not include the impact of future pharma tariffs. Notably, BioMarin has immaterial exposure to U.S. tariffs for China, Mexico, and Canada across its global supply-chain operations and product sales.
BMRN’s Recent Pipeline Updates
Last month, BioMarin completed enrollment in a pivotal registrational program on Voxzogo in patients with hypochondroplasia, a condition characterized by impaired bone growth. Top-line data from this study is expected next year. If data from this study is positive, the company plans to launch the drug in this indication in 2027.
BioMarin is also advancing Voxzogo in clinical studies for four other short-stature pathway conditions — idiopathic short stature, Noonan Syndrome, Turner Syndrome and SHOX deficiency. Enrollment in all these studies is currently ongoing.
Based on the success seen with Voxzogo as a C-type natriuretic peptide (CNP) analog, BioMarin decided to advance BMN 333, a long-acting formulation of CNP, as a potential treatment for multiple growth-related conditions but with an option for less frequent dosing. A first-in-human study on BMN 333 was initiated earlier this year, with initial data expected by this year’s end. The company also expects to report initial proof-of-concept data from an early-stage study on BMN 351, an oral therapeutic for liver disease associated with alpha-1 antitrypsin deficiency.
BMRN decided to discontinue development of BMN 370 in von Willebrand Disease after it did not meet the threshold for further development and commercialization in pre-clinical studies.
BMRN’s Zacks Rank
BioMarin currently carries a Zacks Rank #3 (Hold).
BioMarin Pharmaceutical Inc. Price
BioMarin Pharmaceutical Inc. price | BioMarin Pharmaceutical Inc. Quote
Our Key Picks Among Biotech Stocks
A couple of better-ranked stocks from the industry are argenx (ARGX - Free Report) and CytomX Therapeutics (CTMX - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Estimates for argenx’s 2025 earnings per share (EPS) have increased from $11.14 to $12.62 over the past 60 days, while the same for 2026 has increased from $19.45 to $20.47. ARGX’s shares have gained 4% year to date.
argenx's earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 345.11%.
In the past 60 days, estimates for CytomX Therapeutics’ 2025 EPS have improved from a loss of 31 cents to a profit of 32 cents. During the same timeframe, estimates for 2026 loss per share have narrowed from 65 cents to 45 cents.
CytomX Therapeutics’ earnings beat estimates in three of the trailing four quarters and missed the mark once, delivering an average surprise of 180.70%.