BioMarin Reports 20% Revenue Growth as Amicus Acquisition Transforms Growth Profile
The rare disease drugmaker posted Q2 revenue approaching $1 billion while announcing $2.6 billion in combined peak revenue targets for newly acquired Fabry and Pompe therapies.
Strong Quarter Fueled by Acquisition and Organic Growth
BioMarin Pharmaceutical Inc. reported second quarter 2026 revenue approaching $1 billion, representing 20% year-over-year growth, as the company completed integration of its Amicus Therapeutics acquisition and raised full-year guidance for its flagship growth product VOXZOGO (earnings call, 2026-08-06).
CEO Alexander Hardy characterized the quarter as "a standout," combining "strong growth to nearly $1 billion in revenue with the successful close and integration of Amicus while delivering on milestones that strengthen our leadership in genetic conditions" (earnings call, 2026-08-06).
Amicus Integration Delivers Peak Revenue Targets
The company disclosed peak revenue estimates for the recently acquired Amicus assets, projecting $1.4 billion for Galafold, a Fabry disease treatment, and $1.2 billion for POMBILITI and OPFOLDA, therapies for Pompe disease, both reaching peaks by the mid-to-late 2030s (earnings call, 2026-08-06).
BioMarin expects to realize approximately $220 million in annual cost synergies by 2028, representing roughly 50% of Amicus' 2025 non-GAAP operating expenses of $432 million. More than 70% of these synergies will come from general and administrative functions, with the remainder primarily from R&D (earnings call, 2026-08-06).
On a pro forma basis, Galafold revenue grew approximately 10% year-over-year in Q2, while POMBILITI and OPFOLDA grew over 65% (earnings call, 2026-08-06). The combined therapies are expected to reach over 60% non-GAAP operating margin by 2030.
VOXZOGO Maintains Momentum Despite Competition
VOXZOGO, BioMarin's treatment for achondroplasia, delivered 14% year-over-year revenue growth driven by double-digit gains in both U.S. and international markets (earnings call, 2026-08-06). The performance is notable as it represents the first full quarter facing U.S. competition following a rival product approval in February 2026.
Chief Commercial Officer Cristin Hubbard reported that approximately 90% of U.S. children treated with VOXZOGO remained on therapy as of end-July, based on available information (earnings call, 2026-08-06). The number of children treated globally grew more than 20% year-over-year, with roughly three-quarters of revenue generated outside the United States.
BioMarin submitted a supplemental new drug application for VOXZOGO to treat hypochondroplasia during the quarter, based on "strong pivotal data" (earnings call, 2026-08-06). Hardy noted the submission speed "reflects the benefits of our investments in AI capabilities and sets the new standard for how BioMarin will execute going forward."
Metabolic Conditions Portfolio Expands
The company's metabolic conditions business unit, which now includes the Amicus therapies alongside legacy enzyme replacement treatments, posted total revenue of $695 million, up 25% year-over-year (earnings call, 2026-08-06). Patient numbers grew across every marketed metabolic conditions brand both year-over-year and sequentially.
PALYNZIQ revenue grew 27% year-over-year, benefiting from continued patient demand and favorable order timing in the U.S. The therapy recently received European approval for adolescents ages 12 and older with PKU (earnings call, 2026-08-06).
BioMarin expects to deleverage approximately one year sooner than initially communicated following the Amicus acquisition, supported by anticipated substantial non-GAAP diluted earnings per share accretion beginning in 2027 (earnings call, 2026-08-06).
This article was generated by MarginX from the earnings call on 2026-08-06. It is not investment advice.