BioMarin Pharmaceutical — Feb 19, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001048477-25-000004
Showing in the filing
VOXZOGO Revenue CAGR
“exceeding 25%”
Period
FY2023
Measure
GAAP-tied
Source
Prose
All guidance in this release · 14
Revenue and profitability growth for FY2025
“Double-Digit”
VOXZOGO country availability for FY2027
“more than 60 countries”
VOXZOGO Revenue CAGR for FY2023
“exceeding 25%”
Enzyme Therapies long-term growth outlook (C… for the long term
“high single-digit CAGR”
Cost transformation program size for FY2024
“$500 million”
Non-GAAP Operating Margin for FY2026
“40%”
Total Revenues for FY2027
“approximately $4 billion”
Non-GAAP Operating Margin growth for FY2025
“14% (3.9 percentage points) Y/Y at the mid-point of guidance”
Operating cash flows for FY2027
“more than $1.25 billion”
Total Revenues for FY2025
“$3,100 to $3,200”
Non-GAAP Operating Margin % for FY2025
“32% to 33%”
Non-GAAP Diluted EPS for FY2025
“$4.20 to $4.40”
VOXZOGO contribution to full-year 2025 Total… for FY2025
“$900 million to $950 million”
Weighted-Average Diluted Shares Outstanding … for FY2025
“approximately 200 million”
Exhibit 99.1 · the passage around this item
… earlier in the release
As of the end of 2024, 47 countries were contributing to VOXZOGO’s global revenues, and the company expects VOXZOGO to be available in more than 60 countries by 2027. With its expected growth trajectory, VOXZOGO is on track to achieve a revenue compound annual growth rate (CAGR) exceeding 25% for the period 2023 - 2027. • To provide additional insight into the dynamics of VOXZOGO’s ongoing global expansion, today BioMarin provided the percentage of actual total VOXZOGO revenues split between the U.S. and the combined contributions from outside of the U.S. (OUS). In fourth quarter 2024, VOXZOGO global revenues were $208 million, including a 26% contribution from the U.S. and a 74% contribution from OUS. In the full year 2024, VOXZOGO global revenues were $735 million, including a 24% contribution from the U.S. and a 76% contribution from OUS. • In the U.S., the largest single market opportunity for achondroplasia, the majority of new patient starts in the quarter were for children under the age of 5 years. In 2025, launch momentum across the U.S. is expected to contribute meaningfully to the continued global expansion of VOXZOGO across all ages from infancy. • Enzyme Therapies continue to be a significant driver of growth, with revenues increasing 9% in the fourth quarter and 12% for the full-year 2024, compared to the same periods in 2023. 2024 benefited from the timing of ALDURAZYME orders, resulting in 40% Y/Y revenue growth in ALDURAZYME. Enzyme Therapies excluding
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.