This could be the year BioMarin finally becomes profitable
BioMarin is a $22 billion company with six approved products, and yet never in its 23-year history has it turned an annual profit from continuing operations (as measured by generally accepted accounting principles, at least).
But that might finally change.
Later this month, BioMarin expects to win FDA approval for what could be its biggest product, a one-time gene therapy for hemophilia A. The company is also close to filing for approval for vosoritide, a treatment for the most common cause of dwarfism.
That makes the rest of 2020 “a pivotal inflection point” for BioMarin, SVB Leerink analyst Joseph Schwartz wrote in a note to investors yesterday. The company, which lost $24 million last year and $77 million the year before, might actually hit the long-delayed milestone of making a profit.
But that might finally change.
Later this month, BioMarin expects to win FDA approval for what could be its biggest product, a one-time gene therapy for hemophilia A. The company is also close to filing for approval for vosoritide, a treatment for the most common cause of dwarfism.
That makes the rest of 2020 “a pivotal inflection point” for BioMarin, SVB Leerink analyst Joseph Schwartz wrote in a note to investors yesterday. The company, which lost $24 million last year and $77 million the year before, might actually hit the long-delayed milestone of making a profit.
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