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How FDA Review of VOXZOGO Full-Approval Data at BioMarin (BMRN) Has Changed Its Investment Story

Simply Wall St · 23h ago
  • BioMarin Pharmaceutical recently announced that the FDA accepted its supplemental New Drug Application to convert VOXZOGO’s accelerated approval in children with achondroplasia to full approval, with a PDUFA target action date of February 28, 2027, based on long-term safety and efficacy data from three ongoing studies.
  • A key differentiator in this filing is the breadth of long-term outcomes data beyond height, including body proportionality, arm span, and skeletal health measures, which could be important for how regulators, physicians, and payers assess VOXZOGO’s clinical value.
  • We’ll now examine how the FDA’s acceptance of this full-approval sNDA for VOXZOGO may influence BioMarin’s rare-disease growth story.

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BioMarin Pharmaceutical Investment Narrative Recap

To own BioMarin, you need to believe VOXZOGO and a small group of rare-disease drugs can support durable growth despite high R&D spend, pricing pressure, and competition. The FDA’s acceptance of the sNDA for full VOXZOGO approval helps address regulatory risk but does not materially change the near term catalyst focus on continued label expansions and reimbursement outcomes, or the key risk of portfolio concentration in a few therapies.

The most relevant recent announcement alongside this sNDA news is the positive CANOPY-HCH-3 data and planned sNDA for VOXZOGO in hypochondroplasia, expected in the third quarter of 2026. Together, these regulatory milestones around VOXZOGO’s core and adjacent indications frame a near term catalyst path that could broaden the medicine’s reach, while also heightening the importance of pricing, payer decisions, and competitive responses across skeletal growth disorders.

But while VOXZOGO’s long term data can support this growth story, investors should still recognize how concentrated BioMarin’s revenue remains in a few high priced therapies and how sensitive that leaves the business to...

Read the full narrative on BioMarin Pharmaceutical (it's free!)

BioMarin Pharmaceutical's narrative projects $4.9 billion revenue and $1.3 billion earnings by 2029. This requires 14.8% yearly revenue growth and about a $1.0 billion earnings increase from $268.7 million today.

Uncover how BioMarin Pharmaceutical's forecasts yield a $87.85 fair value, a 47% upside to its current price.

Exploring Other Perspectives

BMRN 1-Year Stock Price Chart
BMRN 1-Year Stock Price Chart

Some of the lowest estimate analysts were expecting BioMarin to reach about US$4.5 billion in revenue and roughly US$753 million in earnings by 2029, yet they still warned that international pricing pressure and reliance on VOXZOGO could cap long term upside even with today’s full approval filing news.

Explore 4 other fair value estimates on BioMarin Pharmaceutical - why the stock might be worth just $87.85!

Reach Your Own Conclusion

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.