BioMarin Q3 non-GAAP earnings up 26%, revenue guidance raised

• Revenues: $476.8M (+3.4%).
• Product sales: Vimizim: $147.9M (-9.5%); Kuvan: $124.1M (+2.9%); Naglazyme: $76.3M (-19.2%); Palynziq: $46.1M (+91.3%); Aldurazyme: $40.9M (+79.4%); Brineura: $25.4M (+28.3%).
• Net income: $784.8M (+999%); non-GAAP net income: $98.7M (+26.4%); EPS: $4.01 (+999%).
• Increase in net income primary due to tax benefit of $835.1M related to an intra-entity transfer of IP rights to an Irish subsidiary.
• 2020 guidance: Revenues: $1,850M - 1,950M from $1,810M - 1,870M; Vimizim sales: $530M - 570M from $515M - 545M; Kuvan: $430M - 480M (unch); Naglazyme: $360M - 400M from $370M - 400M; Palynziq: $160M - 190M (unch); Brineura: $85M - 115M from $90M - 110M; net income: $720M - 980M from $760 - 820M; non-GAAP net income: $260M - 310M from $280M - 330M.
• https://seekingalpha.com/news/3632658-biomarin-q3-non-gaap-earnings-up-26-revenue-guidance-raised