BioMarin reports first Vimizim sales

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) reported 1Q14 financial results on Thursday, including $900,000 in sales of newly launched Vimizim elosulfase alfa. The company launched the Orphan drug in the U.S. in February to treat mucopolysaccharidosis IVA (MPS-IVA, Morquio's syndrome), a rare inherited lysosomal storage disease. As of April 30, 50 patients were receiving commercial Vimizim. The European Commission approved the drug late last month.

Revenues in the quarter were $151.5 million, up from $127.9 million in the prior year's quarter and beating the Street's $145.6 million estimate. The company reported a non-GAAP diluted loss per share in the quarter of $0.07. BioMarin reaffirmed 2014 revenue guidance of $650-$680 million, including $60-$70 million in Vimizim sales. The Street was expecting 2014 revenues of $674.8 million. ...