BioMarin Clocks Flat Q4 Sales Despite Erosion oF US Kuvan Market - Biomarin Pharmaceutical (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc BMRN reported a 1% Y/Y decrease in Q4 revenue to $449.8 million, beating the consensus estimate of $442.39 million.
The decline was attributable to lower sales from Kuvan and Naglazyme, cushioned by higher revenues from Aldurazyme, Vimizim, and Palynziq.
Kuvan sales decreased 23% to $ 68.5 million, primarily due to generic competition.
Lower Naglazyme product revenues declined 31% to $83.1 million, primarily driven by the timing of orders from Latin America, the Middle East, and Europe.
Related: FDA Asks For More Data To Resolve BioMarin's Gene Therapy Clinical Hold.
Aldurazyme product revenues increased to $20.3 million due to the timing of product fulfillment to Sanofi SA SNY.
Palynziq sales increased 29% to $63.8 million primarily due to a combination of more patients in the U.S. achieving maintenance dosing and new patients initiating therapy.
Vimizim product revenues reached $156.3 million, +10% primarily driven by the timing of orders in the Middle East and Latin America.
BioMarin posted an EPS loss of $(0.32), compared to earnings of $0.12, in line with the consensus estimate.
The Company reported a wider operating loss of $(65.9) million than $(44.84) in Q4 FY20.
Guidance: BioMarin expects FY22 sales of $2.05 billion - $2.15 billion, versus the consensus of $2.14 billion.
It forecasts an adjusted income of $350 million - $390 million.
Price Action: BMRN shares closed at $82.52 on Wednesday.