BioMarin Pharmaceutical’s (BMRN) net revenues over the first nine months of this year amounted to $1.1 billion compared to $955.3 million in the same period the prior year, a ~19% YoY increase. BioMarin Pharmaceutical reported net revenues of $391.7 million in the third quarter, which reflected ~17% YoY growth.
In the third quarter, BioMarin Pharmaceutical generated revenues of $386.3 million from product sales and $5.4 million from royalties and other revenues. BioMarin Pharmaceutical’s net revenues from product sales during the first nine months of this year amounted to $1.12 billion compared to $916.8 million in the same period the prior year.
BioMarin Pharmaceutical anticipates its net revenues for fiscal 2018 to be $1.47 billion–$1.53 billion. Wall Street analysts project that BioMarin Pharmaceutical will report net revenues of $1.5 billion. Wall Street analysts estimate BioMarin Pharmaceutical’s net revenues in the fourth quarter to be around $379.29 million, representing ~17.23% YoY growth.
In the third quarter, Alexion Pharmaceuticals (ALXN), Sarepta Therapeutics (SRPT), and Vertex Pharmaceuticals (VRTX) reported revenues of $1.0 billion, $78.49 million, and $783.86 million, respectively, reflecting ~19.50%, ~70.79%, and ~42.04% YoY growth. The revenue growth of Vertex Pharmaceuticals, Alexion Pharmaceuticals, and BioMarin Pharmaceutical could boost the First Trust NYSE Arca Biotechnology Index Fund (FBT). BioMarin Pharmaceutical, Alexion Pharmaceuticals, and Vertex Pharmaceuticals make up about ~3.21%, ~3.24%, and ~3.42% of FBT’s total portfolio holding, respectively.
BioMarin Pharmaceutical’s cost of sales over the first nine months of this year amounted to $240.2 million compared to $165.8 million over the same period the prior year.
The company’s research and development and selling, general, and administrative expenses during the first nine months of this year totaled to $520.9 million and $440.2 million, respectively, compared to $442.1 million and $394.1 million in the same period the prior year.
In the next article, we’ll discuss BioMarin Pharmaceutical’s product performance in detail.