BioMarin PharmaceuticalBMRN

BioMarin reported a strong second quarter with $990 million in revenue, which was about $60 million higher than analysts expected. The company earned $1.20 per share, comfortably beating the $0.95 estimate. This growth was driven by its bone-growth drug, Voxzogo, and the addition of new treatments for Fabry and Pompe diseases from its recent purchase of Amicus Therapeutics.

Management raised its financial targets for the rest of the year, signaling confidence that it can combine the two companies while cutting overlapping costs. This is a key step in BioMarin's plan to shift from a research-heavy firm into a more profitable business. By using its existing sales teams to sell these new, high-priced medicines globally, the company expects to widen its profit margins and bring in more cash through the next decade.

See the full quarter, and how our tracked metrics did

Source: 8-K filing

The company is scheduled to report its latest results after the market closes today. Analysts expect earnings of about 95 cents per share on roughly 930 million dollars in sales.

The main things to watch are how well the company is folding in its recent 3.7 billion dollar purchase of Amicus Therapeutics and the sales growth of Voxzogo, its drug for children with a common form of dwarfism. These two areas are the biggest drivers for whether the company can hit its goal of widening profit margins to 35 percent.

See the full quarter, and how our tracked metrics did

Key highlights

• Full year outlook raised: Management increased 2026 revenue guidance to a range of $3.875 billion to $3.925 billion, up from a prior floor of $3.825 billion, as the company integrates its recent Amicus acquisition. This growth is expected to drive adjusted earnings per share to between $4.90 and $5.10 for the year.
• Voxzogo growth accelerating: Revenue for the bone growth drug Voxzogo rose 14% to $253 million, but the number of children starting treatment jumped 20% compared to a year ago. Following this demand, the company raised the minimum yearly sales target for the drug to $1 billion.
• Metabolic therapies surging: Sales for metabolic conditions, which are rare genetic diseases, grew 25% this quarter as the company added new products from its Amicus purchase. This division is central to the company's long term plan, with two newly added drugs expected to reach combined annual sales of $2.6 billion by the late 2030s.
• Integration costs impacting margins: The adjusted operating margin, which measures the profit left after running the business, fell to 36.4% from 39.9% a year ago. The dip was caused by $84 million in costs to acquire and integrate Amicus, though the company expects to cut $220 million in yearly expenses by 2028.
• Pipeline advancement: The company submitted an application to the FDA to use Voxzogo for a second condition, hypochondroplasia, which is a specific form of short-stature. A decision is expected in early 2027, potentially opening the drug to a new group of patients after trial data showed it improved height by 2.33 centimeters per year compared to a placebo.

Our take: This was a strong quarter that successfully moved the company past its reliance on a few older drugs. By raising the full year outlook and showing 20% growth in new patients for its lead drug, BioMarin proved it can grow while managing a major acquisition. The clear path to $220 million in cost savings strengthens the long term case for its improved profitability.