Maintaining Our BioMarin FVE Following Weaker 4Q and Catalyst-Heavy 2019
We’re maintaining our $119 fair value estimate for BioMarin following fourth-quarter 2018 earnings that were in line with our expectations and guidance for 2019 that revealed stronger top-line potential for several marketed rare-disease drugs but also higher expected research/development and marketing costs. BioMarin’s revenue fell 1% year over year in the fourth quarter, which was affected by large Brazil orders for Naglazyme and Vimizim in the third quarter. Newly approved PKU therapy Palynziq...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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