BioMarin Expects To Be Profitable In FY20; Revenue To Rise 14%-20%

(RTTNews) - BioMarin Pharmaceutical Inc. (BMRN) said, for fiscal 2020, the company projects GAAP net income in a range of $20 million to $80 million; non-GAAP income of $260 million to $310 million; and total revenues of $1.95 billion to $2.05 billion. Palynziq net product revenues are projected between $180 million to $210 million, a significant growth over 2019.

Fourth-quarter non-GAAP income was $46.4 million, compared to a loss of $10.9 million, a year ago. Total net product revenues increased to $436.6 million, from $347.2 million, prior year. Palynziq net product revenues increased by $23.6 million, driven by a combination of revenue from patients achieving maintenance dosing and new patients initiating therapy.