The orphan-drug maker posted earnings last night with sales on fire. Total revenue was up 29% year over year, helping the company eke out a $0.01-per-share profit.
BioMarin raised the low end of revenue guidance and tightened its earnings guidance on both sides. Taking a cue from big brother Pfizer
The nice thing about developing "orphan" drugs for diseases with very few patients is that there's usually little competition. The bad news is that once a company has maxed out the patient population, it's hard to grow the franchise further. Aldurazyme, which BioMarin sells through Genzyme
Kuvan and Naglazyme still have some room to run, but their growth may slow down before BioMarin has a chance to get its next drug candidate to market. Phase 2 results for BioMarin's farthest-along drug candidates, GALNS and PEG-PAL, won't be available until next year, and then they'll have to go through phase 3 testing and regulatory approval.
Like other smaller drug companies such as Celgene
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