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Aug 11, 2008
 |  BioCentury  |  Finance

EPS watch

EPS watch

BioMarin (NASDAQ:BMRN; SWX:BMRN) dropped about $350 million in market cap last week after it reported sales of its phenylketonuria drug, Kuvan sapropterin, were lower than what analysts were expecting. For example, Leerink Swann analyst Joseph Schwartz had estimated sales would be $16.3 million, compared to the $12 million the company reported for the quarter. FDA approved Kuvan at the end of last year. Despite missing on Kuvan sales, BioMarin beat the Street’s EPS estimate by $0.01 and reported a 122% increase in revenues to $64.2 million for the quarter. (A) Results for fiscal fourth quarter ended June 30; Mcap in...

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