BMRN - BioMarin Pharmaceutical Inc. (BMRN) Q4 2023 Earnings Call Transcript
2024-02-22 21:08:06 ET
BioMarin Pharmaceutical, Inc. (BMRN)
Q4 2023 Earnings Conference Call
February 22, 2024, 04:30 PM ET
Company Participants
Traci McCarty - Head of Investor Relations
Alexander Hardy - President and Chief Executive Officer
Henry Fuchs - President, Worldwide Research and Development
Brian Mueller - Executive Vice President and Chief Financial Officer
Jeffrey Ajer - Executive Vice President and Chief Commercial Officer
Greg Guyer - Executive Vice President and Chief Technical Officer, Manufacturing and Technical Operations
Conference Call Participants
Salveen Richter - Goldman Sachs
Akash Tewari - Jefferies
Jessica Fye - JPMorgan
Phil Nadeau - TD Cowen
Geoff Meacham - Bank of America
Ellie Merle - UBS Financial
Joseph Schwartz - Leerink Partners
Mohit Bansal - Wells Fargo
Gena Wang - Barclays
Vikram Purohit - Morgan Stanley
Tim Lugo - William Blair
Olivia Brayer - Cantor Fitzgerald
Kostas Biliouris - BMO Capital Markets
Jack Allen - Baird
David Lebowitz - Citigroup
Luca Issi - RBC Capital Markets
Presentation
Operator
Thank you for standing by, and welcome to the BioMarin Pharmaceutical Fourth Quarter and Full Year 2023 Conference Call.
I would now like to welcome Traci McCarty, Head of Investor Relations to begin the call. Traci, over to you.
Traci McCarty
Thank you, Mandeep. Thank you, everyone, for joining us today. To remind you, this non-confidential presentation contains forward-looking statements about the business prospects of BioMarin Pharmaceutical, Inc., including expectations regarding BioMarin's financial performance, commercial products and potential future products in different areas of therapeutic research and development. Results may differ materially depending on the progress of BioMarin's product programs, actions of regulatory authorities, availability of capital, future actions in the pharmaceutical market and developments by competitors, and those factors detailed in BioMarin's filings with the SEC such as 10-Q, 10-K and 8-K reports.
In addition, we will use non-GAAP financial measures as defined in Regulation G during the call today. These non-GAAP measures should not be considered in isolation from, as substitutes for or superior to financial measures prepared in accordance with US GAAP. And you can find the related reconciliations to US GAAP in the earnings release and earnings presentation, both of which are available on the Investor Relations section of our website.
On the call from BioMarin management today are Alexander Hardy, President and Chief Executive Officer; Hank Fuchs, President of Worldwide R&D; and Brian Mueller, Executive Vice President, Chief Financial Officer; Jeff Ajer, Executive Vice President, Chief Commercial Officer; and Greg Guyer, Executive Vice President and Chief Technical Officer, are here with us to answer questions during the Q&A portion of the call.
I will now turn the call over to BioMarin's President and CEO, Alexander Hardy.
Alexander Hardy
Thank you, Traci, and good afternoon, everyone. Thank you all for joining us today. As I said in January and reiterate today, the opportunity at BioMarin to positively impact patients' lives through transformative therapies, while delivering value creating revenue growth and profitability to shareholders has never been more evident.
Touching on today's financial results. Total revenue grew 20% in the fourth quarter of 2023 compared to the fourth quarter of 2022. And total revenue grew 15% for the full year of 2023 compared to the prior year. This is a very strong performance. On a constant currency basis, total revenue growth was 25% in the fourth quarter and 20% for the full year, equally as important to BioMarin's growth story of bottom line results....
BioMarin Pharmaceutical, Inc. (BMRN) Q4 2023 Earnings Call Transcript