BioMarin Announces Fourth Quarter And Full Year 2012 Financial Results

Total Revenue in 2012 Exceeds $500 Million

PEG-PAL End of Phase 2 Meeting Completed, Phase 3 to Begin Next Quarter

Conference Call and Webcast to Be Held Today at 5:00 p.m. ET

Financial Highlights ($ in millions, except per share data, unaudited)

	FY 2012	FY 2011	Percent Change
Total BioMarin Revenue	$ 500.7	$ 441.4	13.4%
Total Net Product Revenue	496.5	437.6	13.5%
Naglayzme Net Product Revenue	257.0	224.9	14.3%
Aldurazyme BioMarin Net Product Revenue	82.2	82.8	-0.7%
Kuvan Net Product Revenue	143.1	116.8	22.5%
Firdapse Net Product Revenue	14.2	13.2	7.6%
GAAP Net Loss	(114.3)	(53.8)
GAAP Net Loss per Share (basic and diluted)	$ (0.95)	$ (0.48)
Non-GAAP Adjusted EBITDA Income (Loss)	$ (11.6)	$ 34.5
Cash, cash equivalents and short and long-term investments*	$ 566.7	$ 289.5	95.8%
* The cash balance at the end of 2012 includes net proceeds of $235.5 million from the public offering in June 2012.

SAN RAFAEL, Calif., Feb. 21, 2013 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) today announced financial results for the fourth quarter and full year 2012. GAAP net loss was $53.0 million ($0.43 per share) for the fourth quarter of 2012, compared to GAAP net loss of $26.7 million ($0.23 per share) for the fourth quarter of 2011. Non-GAAP adjusted EBITDA was a loss of $15.5 million for the fourth quarter of 2012, compared to non-GAAP adjusted EBITDA loss of $3.0 million for the fourth quarter of 2011. The increased GAAP net loss and the reduced non-GAAP adjusted EBITDA for the fourth quarter of 2012 compared to the fourth quarter of 2011 was primarily due to increased net product revenue offset by a larger increase in research and development expenses.

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