BioMarin lowers guidance

BioMarin (BMRN; SWX:BMRN) said it expects that recently acquired pediatric asthma drug Orapred will have "no contribution" to revenues in the second half. As a result, the company said it now expects to post a GAAP net loss of $137-$140 million this year. Previously, BMRN expected a GAAP loss of $112-$114 million. The company said that distributors were holding larger-than-expected quantities of Orapred before BMRN acquired the drug via its purchase of the Ascent Pediatrics business of Medicis (MRX) (see BioCentury, April 26, 2004). ...