BioMarin Reports Strong 2025 Earnings Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 24 2026
0mins
Should l Buy BMRN?
Source: seekingalpha
- Significant Revenue Growth: BioMarin's total revenue for 2025 reached $3.22 billion, reflecting a 13% year-over-year increase, with enzyme therapies growing by 9% and Voxzogo revenues soaring by 26%, indicating strong performance and heightened market demand in the biopharmaceutical sector.
- Strategic Acquisition Progress: The company completed its acquisition of Inozyme and expects to finalize the acquisition of Amicus next quarter, which will enhance its enzyme therapy portfolio and further solidify BioMarin's leadership position in the rare disease treatment market.
- Optimistic Future Outlook: The CFO projected total revenues for 2026 to be between $3.325 billion and $3.425 billion, with enzyme therapies and Voxzogo revenues expected to be between $2.225 billion to $2.275 billion and $975 million to $1.025 billion respectively, demonstrating the company's confidence in future growth.
- Robust Cash Flow: BioMarin reported a non-GAAP diluted EPS of $3.15 for 2025, with operating cash flow reaching $828 million, a 45% increase year-over-year, providing strong financial support for future investments and acquisitions.
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Analyst Views on BMRN
Wall Street analysts forecast BMRN stock price to rise
19 Analyst Rating
14 Buy
5 Hold
0 Sell
Moderate Buy
Current: 54.140
Low
60.00
Averages
87.35
High
120.00
Current: 54.140
Low
60.00
Averages
87.35
High
120.00
About BMRN
BioMarin Pharmaceutical Inc. is a global biotechnology company engaged in the development of genetic discovery into medicines that make an impact on the life of each patient. The Company has eight commercial therapies and a clinical and preclinical pipeline. Its commercial products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Palynziq (pegvaliase-pqpz), Brineura (cerliponase alfa), Aldurazyme (laronidase), Roctavian (valoctocogene roxaparvovec), Kuvan (sapropterin dihydrochloride), and Voxzogo (vosoritide). Vimizim is an enzyme replacement therapy for the treatment of MPS IVA, a lysosomal storage disorder. The Roctavian is an adeno-associated virus (AAV5) vector gene therapy designed to restore factor VIII plasma concentrations in patients with severe hemophilia A. Its key clinical programs include Vosoritide, BMN 333, BMN 390, BMN 351, BMN 349, and INZ-701. Its late-stage enzyme replacement therapy, INZ-701, is being developed for the treatment of ENPP1 deficiency.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CNBC Launches Advocacy Platform for Rare Diseases
- Platform Launch: CNBC launched the CNBC Cures platform on January 8, aimed at giving a voice to the 30 million Americans living with rare diseases, connecting them with existing advocacy groups to drive attention and support from the medical community.
- Audience Engagement: The CNBC Cures newsletter has surpassed 20,000 subscribers, making it one of the fastest-growing newsletters on the network, indicating strong viewer interest and support for rare disease topics.
- Social Media Impact: Cures-related videos have garnered 1 million views across Facebook, TikTok, Instagram, and LinkedIn, demonstrating significant outreach and enhancing public awareness of rare diseases.
- Successful Summit: The inaugural CNBC Cures Summit attracted notable figures like Warren Buffett and sold out shortly after registration opened, with over 8,000 views for the livestream, reflecting heightened societal attention and support for rare disease issues.
See More
BioMarin Discontinues Voxzogo Trials Amid Safety Concerns
- Trial Discontinuation: BioMarin announced the discontinuation of dosing and enrollment in its phase 2 trials for Voxzogo in Turner syndrome, SHOX deficiency, and ACAN deficiency due to multiple slipped capital femoral epiphysis (SCFE) events, indicating potential safety concerns that could impact future drug development strategies.
- Safety Profile Maintained: Although no SCFE events were observed in BioMarin's other phase 2 trials and none in over 5,000 children treated with Voxzogo, the occurrence of these events may still undermine investor confidence in the company's products, potentially affecting stock performance.
- Continued Trials: BioMarin stated that the Canopy phase 2 trials for children with Noonan syndrome and idiopathic short stature (ISS) without ACAN deficiency will proceed as planned, suggesting that the company still sees potential in Voxzogo for certain indications, which may support future market performance.
- Stock Price Reaction: Following this announcement, BioMarin's shares fell 4.6% to $55.80 in premarket trading, reflecting the market's negative reaction to the trial discontinuation, which could impact its future financing and R&D capabilities.
See More
VOXZOGO Treatment Shows Significant Improvements in Children's Skeletal Growth
- Early Treatment Impact: New data indicates that children starting VOXZOGO treatment before age 2 experienced an average height increase of 4.7 cm (p=0.0002) after four years, underscoring the critical importance of early intervention for skeletal growth.
- Proportionality Improvements: Among children treated with VOXZOGO, the upper-to-lower body segment ratio (ULBR) improved by 0.33 (p=0.0005) in the first year and further improved to 0.53 (p<0.0001) by year four, demonstrating the drug's effectiveness in enhancing body proportionality.
- Global Clinical Evidence: More than 5,000 children across over 50 countries have received VOXZOGO, with Japanese children showing an average height increase of 9.91 cm at 12 months and 15.62 cm at 24 months, further validating the drug's efficacy and safety.
- Long-Term Safety Studies: BioMarin will present findings on VOXZOGO's long-term safety and growth outcomes at the 2026 ACMG Annual Clinical Genetics Meeting, emphasizing its significant role in children's skeletal development and aiding communication between physicians and families.
See More
VOXZOGO Shows Significant Efficacy in Children
- Early Treatment Impact: New data indicates that children starting VOXZOGO treatment before age 2 experienced an average height increase of 4.7 cm over four years (p=0.0002), underscoring the significant impact of early intervention on skeletal growth and reinforcing VOXZOGO's status as the only approved treatment.
- Proportionality Improvement: Among children treated with VOXZOGO, the upper-to-lower body segment ratio (ULBR) improved by 0.33 (p=0.0005) in the first year and reached 0.53 (p<0.0001) by year four, indicating that early treatment enhances not only height but also overall body proportionality, which is crucial for health.
- Global Evidence Support: More than 5,000 children across over 50 countries have received VOXZOGO, with Japanese children showing an average height increase of 9.91 cm at 12 months and 15.62 cm at 24 months, further validating the efficacy and safety of VOXZOGO.
- Clinical Research Findings: BioMarin will present these research results at the 2026 American College of Medical Genetics and Genomics Annual Meeting, emphasizing the importance of VOXZOGO in children's skeletal development and facilitating communication between families and healthcare providers.
See More
BioMarin Pharmaceutical Outlines Strategic Refresh and Market Outlook
- Strategic Update: BioMarin Pharmaceutical emphasized its strategic refresh at the TD Cowen conference, particularly through the Inozyme deal and the pending Amicus acquisition, aiming to expand enzyme therapy scale across approximately 80 countries, thereby enhancing its competitive position in the rare disease market.
- Revenue Outlook: Despite anticipating a roughly 3% revenue headwind in 2026 due to the removal of ROCTAVIAN and Kuvan revenue declines, BioMarin expects core enzyme and skeletal businesses to grow at mid-to-high single digits, targeting a 40% operating margin by 2026.
- Competitive Dynamics: BioMarin anticipates new FDA-approved competition for Voxzogo; however, management believes that patient switching will be gradual due to its five-year market lead and strong patient adherence, which will help maintain market share.
- Clinical Catalysts: BioMarin is advancing multiple clinical trials, including a Phase 3 study for hypochondroplasia and a pediatric Phase 3 study for BMN 401, which are expected to provide significant growth drivers for the company, particularly in the global rare disease treatment landscape.
See More
FDA Grants Approvals for Multiple New Therapies
- Hernexeos Approval: On February 26, 2026, the FDA granted accelerated approval to Boehringer Ingelheim's Hernexeos as a first-line treatment for adult patients with HER2-mutant advanced non-small cell lung cancer, representing a significant milestone that could improve patient prognosis and reduce the risk of brain metastases for the 2-4% of NSCLC cases affected.
- Yuviwel Launch: Ascendis Pharma secured FDA approval on February 27, 2026, for Yuviwel, the first and only therapy providing continuous systemic exposure to C-type natriuretic peptide (CNP) for children aged 2 and older with achondroplasia, which is expected to enhance treatment adherence compared to daily alternatives.
- Palynziq Indication Expansion: BioMarin received FDA approval on February 27, 2026, to expand Palynziq's indication to include pediatric patients aged 12 and older with phenylketonuria, which is anticipated to further drive sales growth, having generated $433 million in revenue in 2025.
- Sogroya New Indications: Novo Nordisk obtained FDA approval on February 27, 2026, for Sogroya's expanded indications for various growth disorders, offering a once-weekly growth hormone alternative that is expected to improve treatment adherence and alleviate the burden of daily injections for families.
See More
CNBC Launches Advocacy Platform for Rare Diseases
- Platform Launch: CNBC launched the CNBC Cures platform on January 8, aimed at giving a voice to the 30 million Americans living with rare diseases, connecting them with existing advocacy groups to drive attention and support from the medical community.
- Audience Engagement: The CNBC Cures newsletter has surpassed 20,000 subscribers, making it one of the fastest-growing newsletters on the network, indicating strong viewer interest and support for rare disease topics.
- Social Media Impact: Cures-related videos have garnered 1 million views across Facebook, TikTok, Instagram, and LinkedIn, demonstrating significant outreach and enhancing public awareness of rare diseases.
- Successful Summit: The inaugural CNBC Cures Summit attracted notable figures like Warren Buffett and sold out shortly after registration opened, with over 8,000 views for the livestream, reflecting heightened societal attention and support for rare disease issues.
See More
BioMarin Discontinues Voxzogo Trials Amid Safety Concerns
- Trial Discontinuation: BioMarin announced the discontinuation of dosing and enrollment in its phase 2 trials for Voxzogo in Turner syndrome, SHOX deficiency, and ACAN deficiency due to multiple slipped capital femoral epiphysis (SCFE) events, indicating potential safety concerns that could impact future drug development strategies.
- Safety Profile Maintained: Although no SCFE events were observed in BioMarin's other phase 2 trials and none in over 5,000 children treated with Voxzogo, the occurrence of these events may still undermine investor confidence in the company's products, potentially affecting stock performance.
- Continued Trials: BioMarin stated that the Canopy phase 2 trials for children with Noonan syndrome and idiopathic short stature (ISS) without ACAN deficiency will proceed as planned, suggesting that the company still sees potential in Voxzogo for certain indications, which may support future market performance.
- Stock Price Reaction: Following this announcement, BioMarin's shares fell 4.6% to $55.80 in premarket trading, reflecting the market's negative reaction to the trial discontinuation, which could impact its future financing and R&D capabilities.
See More
VOXZOGO Treatment Shows Significant Improvements in Children's Skeletal Growth
- Early Treatment Impact: New data indicates that children starting VOXZOGO treatment before age 2 experienced an average height increase of 4.7 cm (p=0.0002) after four years, underscoring the critical importance of early intervention for skeletal growth.
- Proportionality Improvements: Among children treated with VOXZOGO, the upper-to-lower body segment ratio (ULBR) improved by 0.33 (p=0.0005) in the first year and further improved to 0.53 (p<0.0001) by year four, demonstrating the drug's effectiveness in enhancing body proportionality.
- Global Clinical Evidence: More than 5,000 children across over 50 countries have received VOXZOGO, with Japanese children showing an average height increase of 9.91 cm at 12 months and 15.62 cm at 24 months, further validating the drug's efficacy and safety.
- Long-Term Safety Studies: BioMarin will present findings on VOXZOGO's long-term safety and growth outcomes at the 2026 ACMG Annual Clinical Genetics Meeting, emphasizing its significant role in children's skeletal development and aiding communication between physicians and families.
See More
VOXZOGO Shows Significant Efficacy in Children
- Early Treatment Impact: New data indicates that children starting VOXZOGO treatment before age 2 experienced an average height increase of 4.7 cm over four years (p=0.0002), underscoring the significant impact of early intervention on skeletal growth and reinforcing VOXZOGO's status as the only approved treatment.
- Proportionality Improvement: Among children treated with VOXZOGO, the upper-to-lower body segment ratio (ULBR) improved by 0.33 (p=0.0005) in the first year and reached 0.53 (p<0.0001) by year four, indicating that early treatment enhances not only height but also overall body proportionality, which is crucial for health.
- Global Evidence Support: More than 5,000 children across over 50 countries have received VOXZOGO, with Japanese children showing an average height increase of 9.91 cm at 12 months and 15.62 cm at 24 months, further validating the efficacy and safety of VOXZOGO.
- Clinical Research Findings: BioMarin will present these research results at the 2026 American College of Medical Genetics and Genomics Annual Meeting, emphasizing the importance of VOXZOGO in children's skeletal development and facilitating communication between families and healthcare providers.
See More
BioMarin Pharmaceutical Outlines Strategic Refresh and Market Outlook
- Strategic Update: BioMarin Pharmaceutical emphasized its strategic refresh at the TD Cowen conference, particularly through the Inozyme deal and the pending Amicus acquisition, aiming to expand enzyme therapy scale across approximately 80 countries, thereby enhancing its competitive position in the rare disease market.
- Revenue Outlook: Despite anticipating a roughly 3% revenue headwind in 2026 due to the removal of ROCTAVIAN and Kuvan revenue declines, BioMarin expects core enzyme and skeletal businesses to grow at mid-to-high single digits, targeting a 40% operating margin by 2026.
- Competitive Dynamics: BioMarin anticipates new FDA-approved competition for Voxzogo; however, management believes that patient switching will be gradual due to its five-year market lead and strong patient adherence, which will help maintain market share.
- Clinical Catalysts: BioMarin is advancing multiple clinical trials, including a Phase 3 study for hypochondroplasia and a pediatric Phase 3 study for BMN 401, which are expected to provide significant growth drivers for the company, particularly in the global rare disease treatment landscape.
See More
FDA Grants Approvals for Multiple New Therapies
- Hernexeos Approval: On February 26, 2026, the FDA granted accelerated approval to Boehringer Ingelheim's Hernexeos as a first-line treatment for adult patients with HER2-mutant advanced non-small cell lung cancer, representing a significant milestone that could improve patient prognosis and reduce the risk of brain metastases for the 2-4% of NSCLC cases affected.
- Yuviwel Launch: Ascendis Pharma secured FDA approval on February 27, 2026, for Yuviwel, the first and only therapy providing continuous systemic exposure to C-type natriuretic peptide (CNP) for children aged 2 and older with achondroplasia, which is expected to enhance treatment adherence compared to daily alternatives.
- Palynziq Indication Expansion: BioMarin received FDA approval on February 27, 2026, to expand Palynziq's indication to include pediatric patients aged 12 and older with phenylketonuria, which is anticipated to further drive sales growth, having generated $433 million in revenue in 2025.
- Sogroya New Indications: Novo Nordisk obtained FDA approval on February 27, 2026, for Sogroya's expanded indications for various growth disorders, offering a once-weekly growth hormone alternative that is expected to improve treatment adherence and alleviate the burden of daily injections for families.
See More
