Biomarin Pharmaceutical Stock Earnings Reports

BioMarin completed the acquisition of Amicus, adding Galafold and Pombility/Opfolda to the commercial portfolio and raising full-year 2026 revenue guidance. Q1 2026 revenue was $766 million (GAAP reconciliations in the release). Updated 2026 guidance (now including Amicus) is total revenue $3.825B–$3.925B (midpoint ≈ +20% YoY) and Enzyme Therapies $2.725B–$2.775B (≈ +30% at midpoint). Non-GAAP diluted EPS guidance is $4.85–$5.05; the Amicus deal is expected to be slightly dilutive in 2026, accretive within the first 12 months after close, and substantially accretive in 2027. Q1 results were impacted by a $31M cost-of-sales charge tied to an unsuccessful Naglazyme process qualification campaign (no impact to commercial supply) and by order timing/stocking dynamics that pushed revenue into H2; management expects >55% of 2026 revenue in H2 and most profits in Q3–Q4. Commercial updates: strong demand across Enzyme Therapies and Voxzogo (Voxzogo patient count +20% YoY; >50% of new U.S. starts in Q1 were under age two), early momentum for Palynziq adolescent launch in the U.S. (12–18), and plans to focus on diagnosis for Fabry and switching for Pompe under the Amicus products. R&D: several near-term catalysts—phase 3 readouts expected in Q2 for Voxzogo in hypochondroplasia and BMN-401 (ENPP1 deficiency); ongoing development of BMN-333 (long-acting CNP) with phase 2/3 enrollment underway; BMN-351 DMD program advancing. Legal/regulatory: ITC proceedings for IP protection are ongoing with an initial decision expected around August 21. Management will provide more detailed Amicus integration, peak revenue potential, and synergy/acceleration plans on the Q2 call. Key investor considerations: accelerated revenue growth from the Amicus acquisition and a larger, more diversified portfolio; short-term EPS impact from one-time charges and order timing but expectation of full-year guidance alignment; several binary near-term clinical readouts and ongoing IP litigation that could materially affect long-term value.