NOVATO, Calif., Sept. 18 CA-BioMarin-Corrects
NOVATO, Calif., Sept. 18 /PRNewswire-FirstCall/ -- BioMarin Pharmaceutical
Inc. (Nasdaq: BMRN) announced today several corrections to an article released
by Bloomberg this morning. The article was based on a telephone interview
with Jean-Jacques Bienaime, Chief Executive Officer of BioMarin, held on
September 17, 2008.
Following is the correct information and is consistent with the
information previously released publicly:
-- The Company expects that peak sales of Naglazyme could be $300 million
world wide and that the Company expects to be "more than half way there" by
next year. That is not intended as sales guidance for 2009.
-- The Company expects that peak sales of Kuvan could be $400 million in
the U.S. and that, consistent with other orphan products, could take several
years to reach that level. The Company can not predict the exact time to peak
sales.
-- The Company has not provided any sales guidance for 2009 or subsequent
years. As is the Company's standard practice, it expects that it will provide
guidance for 2009 in connection with the release of its full year 2008
financial results in February of 2009.
About BioMarin
BioMarin develops and commercializes innovative biopharmaceuticals for
serious diseases and medical conditions. The company's product portfolio
comprises three approved products and multiple clinical and pre-clinical
product candidates. Approved products include Naglazyme(R) (galsulfase) for
mucopolysaccharidosis VI (MPS VI), a product wholly developed and
commercialized by BioMarin; Aldurazyme(R) (laronidase) for
mucopolysaccharidosis I (MPS I), a product which BioMarin developed through a
50/50 joint venture with Genzyme Corporation; and Kuvan(R) (sapropterin
dihydrochloride) Tablets, a product for the treatment of phenylketonuria
(PKU), developed in partnership with Merck Serono, a division of Merck KGaA of
Darmstadt, Germany. Other product candidates include 6R-BH4 for cardiovascular
indications, which is currently in Phase 2 clinical development for the
treatment of peripheral arterial disease and sickle cell disease, and PEG-PAL
(PEGylated recombinant phenylalanine ammonia lyase), which is currently in
Phase 1 clinical development for the treatment of PKU. For additional
information, please visit http://www.BMRN.com. Information on BioMarin's
website is not incorporated by reference into this press release.
Forward-Looking Statement
This press release contains forward-looking statements about the business
prospects of BioMarin Pharmaceutical Inc., including, without limitation,
statements about: the expectations of revenue and sales related to Naglazyme,
Kuvan; the timing of BioMarin's clinical trials of 6R-BH4 for other
indications, PEG-PAL and other product candidates; the continued clinical
development and commercialization of Aldurazyme, Naglazyme, Kuvan, and its
product candidates; and actions by regulatory authorities. These forward-
looking statements are predictions and involve risks and uncertainties such
that actual results may differ materially from these statements. These risks
and uncertainties include, among others: our success in the continued
commercialization of Naglazyme and Kuvan; results and timing of current and
planned preclinical studies and clinical trials; our ability to successfully
manufacture our products and product candidates; the content and timing of
decisions by the U.S. Food and Drug Administration, the European Commission
and other regulatory authorities concerning each of the described products and
product candidates; the market for each of these products; and those factors
detailed in BioMarin's filings with the Securities and Exchange Commission,
including, without limitation, the factors contained under the caption "Risk
Factors" in BioMarin's 2007 Annual Report on Form 10-K, and the factors
contained in BioMarin's reports on Form 10-Q. Stockholders are urged not to
place undue reliance on forward-looking statements, which speak only as of the
date hereof. BioMarin is under no obligation, and expressly disclaims any
obligation to update or alter any forward-looking statement, whether as a
result of new information, future events or otherwise.
BioMarin(R) , Naglazyme(R) and Kuvan(R) are a registered trademarks of
BioMarin Pharmaceutical Inc.
Aldurazyme(R) is a registered trademark of BioMarin/Genzyme LLC.
InvestorsMedia
Eugenia Shen Susan Berg
BioMarin Pharmaceutical Inc. BioMarin Pharmaceutical Inc.
(415) 506-6570 (415) 506-6594
SOURCE BioMarin Pharmaceutical Inc.
