BIOMARIN PHARMACEUTICAL (BMRN) Company Report

BioMarin Pharmaceutical Inc. priced an offering of $850 million of 5.500% senior unsecured notes due 2034, with the offering expected to close on February 12, 2026.
The company completed the syndication of a new $2 billion senior secured term loan "B" facility and an $800 million senior secured term loan "A" facility.
These financing activities, along with cash on hand, are intended to fund the acquisition of Amicus Therapeutics, Inc. and related fees and expenses.
BioMarin also expects to enter into a $600 million senior secured revolving credit facility in connection with the acquisition.
The notes will be subject to mandatory redemption if the acquisition of Amicus Therapeutics, Inc. is not completed on or prior to December 19, 2026.

5 days ago

8-K

BioMarin Prices Senior Notes and Syndicates Term Loan Facilities

BMRN

Debt Issuance

M&A

BioMarin Pharmaceutical Inc. priced an offering of $850 million of 5.500% senior unsecured notes due 2034, expected to close on February 12, 2026.
The company also completed the syndication of new $2 billion senior secured term loan "B" facility, an $800 million senior secured term loan "A" facility, and a $600 million senior secured revolving credit facility.
The proceeds from these financings, along with cash on hand, are intended to fund the acquisition of Amicus Therapeutics, Inc. and cover related fees and expenses.
The notes are subject to a special mandatory redemption if the acquisition is not completed by December 19, 2026.

5 days ago

Press Release

BioMarin Announces Acquisition of Amicus Therapeutics and Related Financing Plans

BMRN

M&A

Debt Issuance

New Projects/Investments

BioMarin Pharmaceutical Inc. entered into a Merger Agreement on December 19, 2025, to acquire Amicus Therapeutics, Inc., with the acquisition expected to close in the second quarter of 2026.
The total aggregate transaction value for the acquisition is approximately $5,235.0 million, with Amicus stockholders receiving $14.50 per share in cash.
To fund the acquisition, BioMarin intends to offer $850 million of senior unsecured notes and launched the syndication of a new $2 billion senior secured term loan "B" facility and an $800 million senior secured term loan "A" facility, along with a $600 million senior secured revolving credit facility.
The proceeds from these financing activities, combined with cash on hand, will be used to cover the acquisition consideration and associated fees and expenses.
Unaudited pro forma condensed combined financial information for the fiscal year ended December 31, 2024, and the nine months ended September 30, 2025, has been prepared, reflecting the acquisition as if it occurred on January 1, 2024.

Jan 26, 2026, 12:54 PM

8-K

BioMarin Announces Proposed Debt Offerings for Amicus Acquisition

BMRN

Debt Issuance

M&A

BioMarin Pharmaceutical Inc. intends to offer $850 million of senior unsecured notes due 2034.
The company also launched the syndication of a new $2 billion senior secured term loan "B" facility, which is in addition to a $800 million senior secured term loan "A" facility and a $600 million senior secured revolving credit facility.
These financing activities are being undertaken in connection with the pending acquisition of Amicus Therapeutics, Inc..
The net proceeds from the notes offering, along with borrowings under the term facilities and cash on hand, will be used to fund the consideration payable for the Acquisition and related fees and expenses.
The notes will be subject to a special mandatory redemption if the Acquisition is not completed on or prior to December 19, 2026.

Jan 26, 2026, 12:45 PM

Press Release

BioMarin Pharmaceutical Inc. Provides Preliminary FY 2025 Financial Update

BMRN

Earnings

Guidance Update

Profit Warning

BioMarin Pharmaceutical Inc. reported preliminary unaudited total revenues of approximately $3.2 billion for the year ended December 31, 2025.
Preliminary unaudited revenues from VOXZOGO sales were approximately $920 million for the year ended December 31, 2025.
The company expects an asset write-down related to ROCTAVIAN in Q4 2025 of approximately $230 million to $260 million, with $120 million to $125 million (or $(0.60) to $(0.64) per share) expected to reduce Non-GAAP Diluted EPS for the full year 2025.
Excluding the impact of this asset write-down, BioMarin's 2025 full-year financial guidance for Non-GAAP Diluted EPS remains unchanged.

Jan 12, 2026, 9:44 PM

8-K

BioMarin Pharmaceutical Inc. Updates FY 2025 Guidance, Announces Amicus Therapeutics Acquisition, and Outlines 2026 Pipeline Milestones

BMRN

Guidance Update

M&A

New Projects/Investments

BioMarin updated its preliminary unaudited FY 2025 revenue estimate to ~$3.2 billion and VOXZOGO revenue to ~$920 million. The company also expects a Q4 ROCTAVIAN asset write-down impacting Non-GAAP Diluted EPS by ($0.60) – ($0.64).
On December 19, 2025, BioMarin announced the pending acquisition of Amicus Therapeutics for $4.8 billion, which is expected to close in Q2'26 and be substantially accretive to Non-GAAP Diluted EPS starting in 2027.
For 2026, BioMarin anticipates a catalyst-rich year, including Phase 3 data readouts for VOXZOGO (hypochondroplasia) and BMN 401 (ENPP1 deficiency) in 1H'26. Additionally, label expansions are expected for PALYNZIQ (PKU adolescents) with a U.S. PDUFA date of February 28, 2026, and for Pombiliti + Opfolda (Pompe disease adolescents).
The company is targeting a sustained double-digit long-term revenue CAGR and achieved approximately 15% total revenue CAGR from FY'23 to FY'25.

Jan 12, 2026, 7:15 PM

Presentation

BioMarin Provides 2025 Preliminary Revenue and Future Growth Outlook

BMRN

Guidance Update

M&A

Revenue Acceleration/Inflection

BioMarin announced preliminary 2025 revenue of $3.2 billion and aims for sustained double-digit CAGR into the 2030s.
The company's Voxzogo product achieved preliminary 2025 revenue of $920 million, reflecting 27% year-over-year growth in Q4 2025, and BioMarin plans to file for its full approval in achondroplasia in the first half of 2026.
The $4.8 billion Amicus acquisition, announced on December 19th, is expected to accelerate and diversify revenue growth, becoming accretive within 12 months post-closure and substantially accretive by 2027.
BioMarin anticipates a catalyst-rich 2026, including two Phase 3 data readouts, two label expansions, and data for pipeline assets BMN 333 and BMN 351.

Jan 12, 2026, 7:15 PM

Transcript

BioMarin Announces Preliminary 2025 Revenue, Amicus Acquisition Details, and 2026 Catalysts

BMRN

M&A

Guidance Update

New Projects/Investments

BioMarin announced preliminary 2025 revenue of $3.2 billion and reported a 15% CAGR over the last two years, with a target for sustained double-digit CAGR into the 2030s.
The company is undergoing a transformation focused on innovation, growth, and value commitment, which includes a $500 million cost transformation.
The Amicus acquisition, with an equity value of $4.8 billion announced on December 19th, is expected to accelerate and diversify revenue growth, becoming accretive within 12 months post-closure and substantially accretive by 2027.
Voxzogo achieved preliminary 2025 revenue of $920 million, demonstrating 27% year-over-year growth in Q4 2025, and BioMarin plans to file for full FDA approval in H1 2026 while actively defending its intellectual property.
Key R&D catalysts for 2026 include two Phase 3 data readouts, two label expansions (such as the Palynziq adolescent expansion with a PDUFA date of February 28th), and data readouts for pipeline molecules BMN 351 (Duchenne muscular dystrophy) and BMN 333 (achondroplasia), with BMN 333 showing an over 13-fold increase in CNP AUC in early results.

Jan 12, 2026, 7:15 PM

Transcript

BioMarin Provides 2025 Preliminary Revenue and Strategic Updates

BMRN

Guidance Update

M&A

Revenue Acceleration/Inflection

BioMarin announced preliminary 2025 total revenue of $3.2 billion and Voxzogo revenue of $920 million, with Voxzogo showing 27% year-over-year growth in Q4.
The company is targeting sustained double-digit CAGR from now into the 2030s, bolstered by the $4.8 billion Amicus acquisition announced in December, which is projected to close in Q2 2026 and be substantially accretive by 2027.
Significant pipeline updates include filing for full FDA approval for Voxzogo in achondroplasia in H1 2026 , encouraging dystrophin responses for BMN 351 (Duchenne muscular dystrophy) , and the initiation of a Phase 2-3 study for BMN 333 (achondroplasia) in H1 2026, which demonstrated over a 13-fold increase in free CNP AUC.
BioMarin is vigorously defending its intellectual property for Voxzogo, including a petition to the FDA regarding orphan drug exclusivity and ongoing litigation.

Jan 12, 2026, 7:15 PM

Transcript

BioMarin Pharmaceutical announces $4.8 billion acquisition of Amicus

BMRN

M&A

New Projects/Investments

BioMarin Pharmaceutical announced a $4.8 billion cash agreement to acquire Amicus on December 22, 2025.
The acquisition brings two marketed rare-disease products (Galafold and Pombiliti + Opfolda) and U.S. rights to DMX-200, contributing approximately $599 million in combined net product revenue over the past four quarters.
The deal is expected to be accretive to Non-GAAP EPS within a year and substantially accretive by 2027, aiming to de-risk growth.
Concurrently, BioMarin ended the development of BMN 349, an oral small molecule in a Phase 1 trial for alpha-1 antitrypsin deficiency (AATD)-associated liver disease.
Following the announcement, BioMarin's shares fell about 3.5% on December 22, 2025, as several Wall Street firms trimmed price targets or downgraded ratings, while HC Wainwright raised its target to $60.

Dec 22, 2025, 12:10 PM

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Alexander Hardy

Brian R. Mueller

C. Greg Guyer

Cristin Hubbard

G. Eric Davis

Gregory R. Friberg

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Athena Countouriotis

Barbara W. Bodem

Elizabeth McKee Anderson

Ian T. Clark

Mark J. Enyedy

Maykin Ho

Richard A. Meier

Robert J. Hombach

Timothy P. Walbert

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Alexandria Hammond

Allison Bratzel

Andrea Park

Eliana Merle

Ellen Horste

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Huidong Wang

Jasmine Fels

Jason Gerberry

Joe Schwartz

Joseph Schwartz

Kostas Biliouris

Mohit Bansal

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Sean Lehmann

Tommie Reerink

Alex Hammond

Ellie Merle

John Wang

Sadia Rehman

Vikram Purohit

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