Maintaining BioMarin FVE on Strong Portfolio/Pipeline; Lower Costs Balance Emerging-Market Headwind
BioMarin reported third-quarter results that were roughly in line with our expectations, and with pipeline plans tracking well, we’re maintaining our $123 per share fair value estimate, which is significantly above recent prices. Management left top-line guidance for 2016 unchanged, as strong performance from its rare disease therapies was countered by access problems in Turkey beginning in the second quarter, as well as tough economic conditions in Brazil. However, the firm noted that the top l...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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