BioMarin Pharmaceutical Inc. reported a significant increase in its financial performance for the fiscal year ending December 31, 2025, achieving total revenues of $3.2 billion, a 12.9% increase from $2.85 billion in 2024. The company’s net income for the year was $348.9 million, down from $426.9 million in the previous year, primarily due to restructuring charges related to the voluntary withdrawal of its product ROCTAVIAN from the market, which accounted for approximately $240 million in costs. The cost of sales also rose to $717.4 million from $580.2 million, reflecting increased production costs and inventory write-offs.
In terms of strategic developments, BioMarin announced a definitive agreement to acquire Amicus Therapeutics for approximately $4.8 billion, which is expected to enhance its portfolio with new therapies for Fabry disease and late-onset Pompe disease. The acquisition is anticipated to close in the second quarter of 2026, pending regulatory approvals and stockholder consent. To finance this acquisition, BioMarin plans to utilize cash reserves and approximately $3.7 billion in non-convertible debt financing, which includes a recent issuance of $850 million in senior unsecured notes due in 2034.
Operationally, BioMarin's product VOXZOGO, which treats achondroplasia, generated $926.9 million in revenue, marking a substantial increase from $735.1 million in 2024. Other enzyme therapies, including VIMIZIM and NAGLAZYME, also contributed to revenue growth, while KUVAN saw a decline due to increased generic competition. The company reported a total of 3,221 employees as of December 31, 2025, with a significant portion engaged in operations and research and development.
Looking ahead, BioMarin is focused on expanding its product pipeline and commercial operations, particularly through the ongoing development of VOXZOGO for additional indications. The company is also conducting strategic assessments of its research and development programs to prioritize those with the highest potential for success. However, it acknowledges the challenges posed by macroeconomic conditions, including inflation and currency fluctuations, which could impact future performance. The company remains committed to navigating these challenges while pursuing its growth strategy and enhancing shareholder value.
About BIOMARIN PHARMACEUTICAL INC
BioMarin Pharmaceutical Inc. is a global biotechnology company specializing in developing and commercializing therapies for rare genetic diseases. Its core products include enzyme replacement therapies and gene therapies targeting conditions like mucopolysaccharidosis, achondroplasia, phenylketonuria, Batten disease, and hemophilia A. BioMarin serves patients worldwide through direct sales and partnerships, leveraging proprietary biologics, gene therapy platforms, and a strong intellectual property portfolio to address unmet medical needs in specialized markets.
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