BioMarin Posts First $1 Billion Quarter, Revenue Up 32.0%, but Cuts 2026 EPS Outlook on Deal Charges
BioMarin Pharmaceutical posted its first billion-dollar quarter, but cut its full-year profit outlook sharply to absorb charges from two pipeline deals and trimmed its revenue range on uncertain order timing.
Third-quarter revenue rose 32.0% to $1,024.6 million from $776.1 million a year earlier, according to its 8-K filed Monday. Growth came mainly from GALAFOLD and POMBILITI + OPFOLDA, rare-disease drugs acquired with Amicus Therapeutics on April 27, 2026.
Non-GAAP earnings rose to 23 cents a share from 12 cents. On a GAAP basis, the net loss widened to $123 million, or 63 cents a share, from $31 million, or 16 cents. BioMarin cited Amicus-related intangible amortization, interest on acquisition debt, integration and restructuring costs, and acquired in-process R&D charges tied to its purchase of Alesta Therapeutics.
Guidance reset
BioMarin now expects 2026 non-GAAP diluted EPS of $2.80 to $3.10, down from $4.90 to $5.10 in August. At the midpoint, that is a 41.0% cut.
The Alesta acquisition and the BMN 450 license agreement will bring 2026 pre-tax charges of an estimated $320 million and $83 million, respectively, the company said.
Total revenue guidance moved to $3,800 million to $3,900 million from $3,875 million to $3,925 million, reflecting uncertainty in the timing of multiple orders from a single international customer. VOXZOGO guidance was lowered to $975 million to $1,025 million from $1,000 million to $1,050 million.
Product mix
Metabolic Conditions revenue climbed 44.2% to $744 million. GALAFOLD contributed $152 million and POMBILITI + OPFOLDA added $49 million in their first full quarter under BioMarin. VIMIZIM rose 18% to $216 million on large international order timing, while NAGLAZYME fell 11% to $108 million.
VOXZOGO, BioMarin's achondroplasia treatment, grew 12.4% to $245 million. The company said a large international VOXZOGO order previously expected in the third quarter is now anticipated in the fourth.
"For the first time, quarterly revenue exceeded $1 billion, a milestone for BioMarin," CEO Alexander Hardy said.
Regulatory calendar
The FDA set a May 30, 2027 target action date for VOXZOGO in hypochondroplasia, and a Feb. 28, 2027 date for full approval in children with achondroplasia, the company said. BioMarin also added BMN 450, an investigational subcutaneous enzyme therapy for Fabry disease.
By the numbers
- $1,024.6 million revenue, up 32.0%
- $0.23 non-GAAP EPS, up from $0.12
- $(0.63) GAAP EPS, versus $(0.16)
- $2.80 to $3.10 new 2026 non-GAAP EPS guidance, from $4.90 to $5.10
- $3,800 million to $3,900 million 2026 revenue guidance
Sources
- BioMarin Pharmaceutical Form 8-K with third-quarter 2026 results, filed Nov. 2, 2026 (accession 0001048477-26-000021)
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