Firm raised their Phenoptin peak U.S. sales estimate to $200mn from $135mn based on demonstrated efficacy, the lack of treatments for PKU and BMRN's commercial expertise in orphan drugs. BioMarin expects to file an NDA for Phenoptin in mild to moderate PKU in 2Q07, and assuming 6-month priority review, they expect approval by YE07/early'08.
They raised peak sale estimate for Naglazyme to $240mn from $175mn in the treatment of MPS VI. Firm believes estimates were conservative and that the drug could track along a similar trajectory to that of Aldurazyme.
With potentially 3 products and profitability in '08 and active R&D in cardiovascular disease, BMRN could make an attractive acquisition candidate.
Notablecalls: Not actionable but good to know category. MLCO's a bit late with their est raises.