Spate of good news from Biomarin, shares cross $100 threshold

Biotech company Biomarin is experiencing a rather positive momentum and its shares (Nasdaq) are deriving their benefit from this, having crossed the $100 threshold, taking its capitalization to $18.2bn. The company recently earned $20m from Pfizer, as FDA and EMA approved its PARP inhibitor Talazoparib. Talazoparib is a therapy developed by the same Biomarin and sold to Medivation in 2015 for $410m, with an additional $160m payment upon achievement of precise milestones. Medivation was then acquired by Pfizer, which is now due to pay royalties and milestones.  Additionally, there are high expectations about the investigational BMN270 therapy (valoctocogene roxaparvovec) for the treatment of haemophilia A, currently undergoing a Phase III clinical trial, whose results are expected over the next few weeks. BMN270  is a gene therapy in direct competition with the one developed by Spark Therapeutics and is likely to become a blockbuster, although it is aimed at treating as few as 90,000 patients. In view of these excellent results, many experts consider Biomarin as an actual target, despite few companies can pay $18bn to acquire it. The most likely buyer is said to be Amgen, which has over $30bn in cash and has reiterated it wants to perform a significant acquisition soon.