BioMarin Pharmaceutical Q4 Results Show Revenue Increase

BioMarin Pharmaceutical (Nasdaq: BMRN) reported $747.31 million in revenue for the fourth quarter, a 16% year-over-year increase.

The San Rafael-based global producer of genetic treatments for rare conditions also announced Feb. 19 its 2024 revenue was $2.85 billion.

“Our operational transformation and strong financial execution in 2024 is the first step in BioMarin’s ambitious multiyear growth plan,” Alexander Hardy, president and CEO, said in a statement.

Voxzogo, a treatment for pediatric dwarfism, contributed the most to the strong earnings performance. Net product revenue for the fourth quarter was $208 million.

Adding to the favorable results, operating expenses dropped to $585.9 million, about $33 million less than the previous year’s fourth quarter.

Founded in 1997, BioMarin Pharmaceutical had $3.23 billion in assets at year-end.