BioMarin Pharmaceutical Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $825.4 million for the three months ended June 30, 2025, compared to $712.0 million for the same period in 2024, marking an increase of 15.9%. For the first half of 2025, revenues totaled $1.57 billion, up from $1.36 billion in the prior year, reflecting a 15.4% increase. The company’s net income also saw a substantial rise, reaching $240.5 million for the second quarter, compared to $107.2 million in the previous year, while net income for the first half was $426.2 million, up from $195.8 million.
The increase in revenue was primarily driven by higher sales volumes across several key products, including VOXZOGO, VIMIZIM, and PALYNZIQ. VOXZOGO alone generated $221.4 million in the second quarter, up from $183.9 million a year earlier. The company also reported a notable increase in customer engagement, with new patient initiations contributing to the growth in product sales. However, the company faced challenges with KUVAN, which experienced a decline in revenue due to increased generic competition following the loss of market exclusivity.
In terms of operational developments, BioMarin completed the acquisition of Inozyme Pharma, Inc. on July 1, 2025, for approximately $270 million. This acquisition is expected to enhance BioMarin's enzyme therapies portfolio by adding a late-stage enzyme replacement therapy for the treatment of ENPP1 deficiency. The company also reported a strategic focus on expanding its product pipeline, with ongoing clinical trials for several therapies, including VOXZOGO for hypochondroplasia and PALYNZIQ for adolescents.
As of June 30, 2025, BioMarin's total assets increased to $7.46 billion, up from $6.99 billion at the end of 2024, driven by higher cash and cash equivalents, which rose to $1.21 billion from $942.8 million. The company’s employee headcount remained stable, reflecting its commitment to maintaining operational efficiency while pursuing growth opportunities. The company’s liquidity position appears strong, with cash generated from operations expected to meet its short-term obligations.
Looking ahead, BioMarin anticipates continued growth driven by its expanding product portfolio and ongoing clinical development efforts. However, the company remains cautious about potential macroeconomic challenges, including inflation and currency fluctuations, which could impact its operations and financial performance. The company is actively monitoring these conditions and is prepared to adjust its strategies as necessary to mitigate risks.
About BIOMARIN PHARMACEUTICAL INC
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