From BioMarin Investor Day, Co Provides New Corporate Strategy And Introduces 2027 Financial Guidance; Sees FY27 Total Revenues $4B; Updated Corporate Strategy Includes Implementation Of $500M Cost Transformation Program; VOXZOGO Expected Data Readout Targeted In 2026, Potential Approval In 2027; Full Year 2024 Guidance Reaffirmed
Portfolio Pulse from Benzinga Newsdesk
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) announced a new corporate strategy and financial guidance for 2027 during its Investor Day. The company aims for $4 billion in total revenues by FY27 and plans a $500 million cost transformation program. BioMarin reaffirmed its FY24 guidance and expects significant growth in Non-GAAP Operating Margin by 2026.
September 04, 2024 | 5:03 pm
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BioMarin Pharmaceutical Inc. introduced a new corporate strategy with a focus on revenue growth and cost transformation. The company targets $4 billion in revenues by 2027 and plans a $500 million cost transformation program. FY24 guidance was reaffirmed.
BioMarin's announcement of a new corporate strategy and financial targets indicates a positive outlook for the company's growth. The $500 million cost transformation program and reaffirmation of FY24 guidance suggest strong management confidence in achieving these goals. This is likely to positively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100