BioMarin's Rare Disease Portfolio and Pipeline Support a Narrow Moat
We’re maintaining our $118 fair value estimate for BioMarin following third-quarter 2018 earnings that were in line with our expectations. BioMarin’s revenue grew 17% in the third quarter, which is slightly ahead of the 15% revenue growth we model for the full year as the quarter benefited from large Brazil orders for both Naglazyme (43% growth) and Vimizim (37% growth). Newly approved PKU therapy Palynziq saw $4.4 million in revenue in the quarter; revenue per patient is lower as patients initi...BioMarin Pharmaceutical is a biotechnology company that develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. The company's commercial products are Aldurazyme (laronidase) for Mucopolysaccharidosis I; Brineura (cerliponase alfa) for the treatment of late infantile neuronal ceroid lipofuscinosis type 2; Kuvan (sapropterin dihydrochloride) for the treatment of phenylketonuria; Naglazyme (galsulfase) the treatment of Mucopolysaccharidosis VI ; Palynziq (pegvaliase-pqpz) for adult patients with phenylketonuria; and Vimizim (elosulfase alpha) for the treatment of Mucopolysaccharidosis IV Type A.
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