BioMarin Pharmaceutical Inc. reported third‑quarter 2025 financial results, posting total revenue of $776.1 million, a 4 % year‑over‑year increase, and non‑GAAP diluted earnings per share of $0.12, which missed some analyst estimates but beat others.
The company raised the lower end of its full‑year 2025 total revenue guidance to $3.15 billion, maintaining the upper end at $3.20 billion. It also updated its full‑year non‑GAAP operating margin guidance to 26 %–27 % and its non‑GAAP diluted EPS guidance to $3.50–$3.60.
Revenue was driven by the company’s core franchises. VOXZOGO, the treatment for achondroplasia, generated $218 million in sales, up 15 % YoY. The Enzyme Therapies unit contributed $516 million, with PALYNZIQ sales rising 20 % and VIMIZIM sales up 3 % (2.8 % YoY). Other products saw mixed performance: NAGLAZYME $122 million (down 7.6 % YoY), ALDURAZYME $54 million (down 24 % YoY), and BRINEURA $48 million (up 30 % YoY).
BioMarin also announced that it will pursue options to divest its gene‑therapy product ROCTAVIAN, which generated only $3 million in sales during the quarter. The company cited the product’s high price, limited reimbursement, and slow patient uptake as reasons for the divestment decision.
The company’s cash position stood at approximately $2.0 billion in total cash and investments, while convertible debt was not disclosed. A one‑time $221 million charge related to the Inozyme Pharma acquisition impacted the quarter’s earnings. GAAP net loss for Q3 2025 was $31 million, compared with a GAAP net income of $106 million in Q3 2024.
Operating cash flow for the quarter was $369 million, and year‑to‑date operating cash flow reached $728 million, supporting ongoing pipeline development and future growth initiatives.
Management highlighted continued confidence in VOXZOGO and PALYNZIQ as key growth drivers, while noting competitive threats to VOXZOGO and the need to focus resources on high‑growth skeletal and enzyme portfolios.
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