Biomarin Pharmaceutical Inc. ((BMRN)) has held its Q2 earnings call. Read on for the main highlights of the call.
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BioMarin Pharmaceutical Inc. recently held its earnings call, revealing a mix of positive growth and operational challenges. The company reported significant revenue growth and strategic acquisitions, yet it faces hurdles with rising expenses and adjusted revenue expectations for VOXZOGO. While BioMarin’s performance and future outlook remain strong, these operational challenges add a layer of caution to their otherwise optimistic narrative.
Double-Digit Revenue Growth
BioMarin achieved an impressive 16% year-over-year revenue growth in Q2 2025. This growth was primarily driven by strong global demand and an increase in new patient starts, underscoring the company’s robust market presence and effective expansion strategies.
VOXZOGO Revenue Increase
The company reported a 20% year-over-year increase in VOXZOGO revenue, reaching $221 million. This growth is attributed to BioMarin’s successful global expansion efforts, which have significantly bolstered the product’s market penetration.
Enzyme Therapies Growth
BioMarin’s enzyme therapies saw a 15% year-over-year revenue increase, totaling $555 million. This highlights the strong demand for these therapies across various regions, reinforcing BioMarin’s leadership in this segment.
Improved Profitability
BioMarin has raised its full-year 2025 guidance, projecting a non-GAAP operating margin between 33% and 34%, and non-GAAP earnings per share between $4.40 and $4.55. This reflects the company’s improved profitability and efficient cost management.
Successful Acquisition
The acquisition of Inozyme has been completed, enhancing BioMarin’s enzyme therapies portfolio. The company anticipates pivotal data for BMN 401 in 2026, which could further strengthen its market position.
Increased Operating Expenses
Non-GAAP SG&A expenses have risen due to investments in resource planning and strategic initiatives. BioMarin expects further increases in these expenses in the second half of 2025, reflecting its commitment to long-term growth.
Lower Expected Earnings in H2 2025
BioMarin forecasts lower earnings per share in the second half of 2025, attributed to increased investments in business units and the timing of expenses. This cautious outlook highlights the company’s strategic focus on future growth.
Shift in VOXZOGO Revenue Guidance
The company adjusted the top end of its full-year VOXZOGO revenue guidance down from $950 million to $935 million due to shifts in order timing. This adjustment reflects BioMarin’s responsive approach to market dynamics.
Forward-Looking Guidance
BioMarin’s forward-looking guidance remains optimistic, with a revised full-year 2025 revenue target of $3.125 billion. The company anticipates strong performances from key products and plans to advance BMN 333 to a registrational Phase II/III study. Additionally, pivotal data readouts for BMN 401 are expected in 2026, indicating a promising pipeline.
In conclusion, BioMarin Pharmaceutical Inc.’s earnings call painted a picture of robust growth tempered by operational challenges. The company’s strategic acquisitions and revenue increases highlight its strong market position, while rising expenses and adjusted expectations for VOXZOGO underscore the complexities of its growth trajectory. Investors and stakeholders can remain optimistic about BioMarin’s future, given its solid performance and forward-looking strategies.