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Donnerstag,
04.05.2017 22:05
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BioMarin Announces First Quarter 2017 Financial Results
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PR Newswire
SAN RAFAEL, Calif., May 4, 2017
SAN RAFAEL, Calif., May 4, 2017 /PRNewswire/ --
Financial Highlights (in millions of U.S. dollars, except per share data, unaudited)
| | | Three Months Ended March 31, | | |||||||||
| | | 2017 | | | 2016 | | | % Change | | |||
| | | | | | | | | | | | | |
| Total BioMarin Revenues | | $ | 304 | | | $ | 237 | | | | 28 | % |
| Aldurazyme Net Product Revenues | | | 19 | | | | 16 | | | | 19 | % |
| Kuvan Net Product Revenues | | | 92 | | | | 77 | | | | 19 | % |
| Naglazyme Net Product Revenues | | | 81 | | | | 65 | | | | 25 | % |
| Vimizim Net Product Revenues | | | 106 | | | | 73 | | | | 45 | % |
| | | | | | | | | | | | | |
| GAAP Net Loss | | $ | (16) | | | $ | (83) | | | | | |
| GAAP Net Loss per Share - Basic and Diluted | | $ | (0.09) | | | $ | (0.51) | | | | | |
| | | | | | | | | | | | | |
| non-GAAP Income (Loss) (1) | | $ | 35 | | | $ | (29) | | | | | |
| | | | | | | | | | | | | |
| | | March 31, 2017 | | | December 31, 2016 | | | | | | ||
| Cash, cash equivalents and investments | | $ | 1,212 | | | $ | 1,362 | | | | | |
| | |
| (1) | Non-GAAP income (loss) is defined by the Company as reported GAAP net income (loss), excluding net interest expense, provision for (benefit from) income taxes, depreciation expense, amortization expense, stock-based compensation expense, contingent consideration expense and certain other specified items as detailed below. Refer to Non-GAAP Information beginning on page 8 of this press release for a complete discussion of the Company's non-GAAP financial information and reconciliations to the comparable GAAP reported information. |
BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced financial results for the first quarter ended March 31, 2017. For the quarter ended March 31, 2017, GAAP net loss was $16 million, or $0.09 per basic and diluted share, compared to GAAP net loss of $83 million, or $0.51 per basic and diluted share for the quarter ended March 31, 2016. The change in GAAP net loss year over year was primarily due to higher gross margins from net product sales and lower research and development expenses from the discontinuance of the Kyndrisa and reveglucosidase alfa programs in 2016, partially offset by higher selling, general and administrative expenses.
Non-GAAP income for the first quarter ended March 31, 2017 was $35 million, compared to non-GAAP loss of $29 million for the quarter ended March 31, 2016. Non-GAAP income (loss) is defined by the Company as reported GAAP net income (loss), excluding net interest expense, provision for (benefit from) income taxes, depreciation expense, amortization expense, stock-based compensation expense, contingent consideration expense and certain other specified items as detailed below. Refer to Non-GAAP Information beginning on page 8 of this press release for a complete discussion of the Company's non-GAAP financial information and reconciliations to the comparable GAAP reported information.
Total BioMarin Revenues were $304 million for the first quarter of 2017, an increase of 28% compared to the same period in 2016. Vimizim net product revenues increased to $106 million in the quarter, a 45% year over year increase, primarily driven by 31% growth in new patients on Vimizim therapy year over year. For the first quarter of 2017, Naglazyme net product revenues increased to $81 million, an increase of 25% year over year. The number of patients on Naglazyme therapy continue to show growth with an increase of 9% year over year. For the first quarter of 2017, Kuvan net product revenues increased to $92 million, a 19% year over year increase. Growth was driven by an 8% increase in the number of patients on Kuvan therapy in the U.S. and the completion of the transition of the ex-North American territories acquired in 2016.
As of March 31, 2017, BioMarin had cash, cash equivalents and investments totaling $1.2 billion, as compared to $1.4 billion on December 31, 2016.
Commenting on the quarter, Jean-Jacques Bienaimé, Chairman and Chief Executive Officer of BioMarin, said, "We begin 2017 from a position of strength across all facets of the business including regulatory actions, financial results and pipeline development. The recent FDA approval and positive CHMP opinion of Brineura marks a significant regulatory accomplishment for the Company and more importantly, a turning point for families living with CLN2 disease who now have an approved treatment option. The speed with which global health authorities reviewed our applications both in the U.S. and Europe speaks to the value our innovative medicines provide patients. Following the recent CHMP positive opinion, we look forward to a potential approval in Europe later in the second quarter. With the recent FDA approval, we are now executing on our commercial launch of Brineura in the U.S." Mr. Bienaimé continued, "BioMarin's robust commercial business continues to support our investment in research and development programs and the next generation of potential products. All of the commercial products we market delivered double-digit growth year over year, and while we expect to incur a GAAP net loss for 2017, we are on a path toward achieving non-GAAP income for the full-year 2017, as planned."
Revenues (in millions of U.S. dollars, unaudited)
Total BioMarin Revenues
| | | Three Months Ended March 31, | | |||||||||||||
| | | 2017 | | | 2016 | | | $ Change | | | % Change | | ||||
| | | | | | | | | | | | | | | | | |
| Aldurazyme | | $ | 19 | | | $ | 16 | | | $ | 3 | | | | 19 | % |
| Firdapse | | | 4 | | | | 4 | | | | - | | | | 0 | % |
| Kuvan (1) | | | 92 | | | | 77 | | | | 15 | | | | 19 | % |
| Naglazyme (2) | | | 81 | | | | 65 | | | | 16 | | | | 25 | % |
| Vimizim (2) | | | 106 | | | | 73 Werbung Mehr Nachrichten zur BioMarin Pharmaceutical Aktie kostenlos abonnieren
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