BioMarin Pharmaceutical Inc. 2026 Q1 – Results – Earnings Call Presentation – Image for illustrative purposes only (Image credits: Unsplash)
BioMarin Pharmaceutical Inc. delivered first-quarter 2026 revenues of $766 million, surpassing analyst expectations and marking a 3 percent rise from the prior year.[1][2] Company executives highlighted robust demand across enzyme therapies during the May 4 earnings call, even as certain one-time charges weighed on profitability. The results arrived alongside news of an upward revision to full-year guidance, fueled by the April 27 closure of the Amicus Therapeutics acquisition.[3]
Revenue Climbs on Enzyme Therapy Strength
Total revenues reached $766 million, up from $745 million in the year-ago quarter. This performance stemmed largely from enzyme therapies, which generated $514 million, a 6 percent increase.[1] VOXZOGO contributed $220 million, reflecting a modest 3 percent gain amid steady new patient starts worldwide.
GAAP net income fell to $106 million from $186 million, yielding diluted earnings per share of $0.54, down 43 percent. Non-GAAP measures showed diluted EPS of $0.76, a 33 percent decline from $1.13. Operating cash flow strengthened to $221 million, supporting a cash position near $2 billion at quarter’s end.[2]
Higher costs played a role in the earnings dip. A $31 million charge tied to an unsuccessful NAGLAZYME manufacturing effort reduced EPS by about $0.12. Pre-close expenses for the Amicus deal added another roughly $0.07 per share impact, alongside elevated research and selling expenses.
Product Performances Show Mixed Results
Enzyme therapies led the quarter’s gains. VIMIZIM sales rose 12 percent to $210 million, driven by sustained patient demand. NAGLAZYME followed with 14 percent growth to $130 million, while BRINEURA increased 18 percent to $47 million.[1]
Not all segments advanced. PALYNZIQ dipped 3 percent to $90 million, reflecting prior U.S. stocking patterns, though new adolescent patient starts gained traction. ALDURAZYME declined 24 percent to $37 million. ROCTAVIAN plunged 73 percent to $3 million following its voluntary market withdrawal earlier in the quarter.
| Product | Q1 2026 Revenue ($M) | YoY Change | Prior Year ($M) |
|---|---|---|---|
| VOXZOGO | 220 | +3% | 214 |
| VIMIZIM | 210 | +12% | 188 |
| NAGLAZYME | 130 | +14% | 114 |
| PALYNZIQ | 90 | -3% | 93 |
| BRINEURA | 47 | +18% | 40 |
| ALDURAZYME | 37 | -24% | 49 |
Guidance Boost Reflects Amicus Integration
BioMarin raised its 2026 total revenue projection to $3.825 billion to $3.925 billion, up from a prior range of $3.325 billion to $3.425 billion. The midpoint implies over 20 percent growth year-over-year.[3] Enzyme therapies now target $2.725 billion to $2.775 billion, while VOXZOGO guidance holds at $975 million to $1.025 billion.
Non-GAAP diluted EPS guidance narrowed slightly to $4.85 to $5.05, accounting for the Amicus deal’s modest dilution. Executives anticipate more than 55 percent of annual revenues in the second half, with about two-thirds of EPS weighted there as well. The acquisition, financed partly through $3.7 billion in debt, brings GALAFOLD for Fabry disease and POMBILITI plus OPFOLDA for Pompe disease into the fold.[1]
Pipeline Advances Bolster Long-Term Outlook
Beyond commercial products, BioMarin emphasized pipeline catalysts. Phase 3 topline data for BMN 401 in ENPP1 deficiency and VOXZOGO in hypochondroplasia both loom in the second quarter, with regulatory submissions planned for late 2026.[3] VOXZOGO’s U.S. supplemental application for full achondroplasia approval advanced, with acceptance expected by quarter three.
- PALYNZIQ gained adolescent approval in the U.S., with Europe to follow.
- BMN 351 for Duchenne muscular dystrophy progresses in phase 1/2, with data updates by year-end.
- BMN 333 phase 2/3 enrollment began for achondroplasia.
Alexander Hardy, president and chief executive officer, captured the momentum: “With the acquisition of Amicus Therapeutics complete, the addition of GALAFOLD and POMBILITI + OPFOLDA to our commercial portfolio allows us to reach patients with Fabry and Pompe diseases and meaningfully strengthens and accelerates our near-to-mid-term growth rates.”[1]
The updated earnings presentation is available on the company’s investor site, alongside details of the conference call webcast.Q1 2026 Earnings Presentation
For investors and patients alike, BioMarin’s trajectory hinges on seamless Amicus integration and pipeline delivery. Steady commercial execution positions the firm to expand access to rare disease therapies, even as near-term costs test margins.