BioMarin Pharmaceutical Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

BioMarin Pharmaceutical Inc. Reports Inducement Grants Under NASDAQ Listing
Rule 5635(c)(4)

SAN RAFAEL, Calif., Dec. 21, 2012 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical
Inc. (Nasdaq:BMRN) today announced that on December 18, 2012, the compensation
committee of BioMarin's board of directors approved the grant to 14 employees
of stock options to purchase 19,100 shares of common stock in the aggregate
and 5,180 restricted stock units in the aggregate. The stock options and
restricted stock units were granted pursuant to the BioMarin Pharmaceutical
Inc. 2012 Inducement Plan, approved by the compensation committee of
BioMarin's board of directors on May 8, 2012, and as inducements material to
the new employees entering into employment with BioMarin in accordance with
NASDAQ Listing Rule 5635(c)(4).

BioMarin granted to each of the 14 employees an option to purchase shares of
BioMarin's common stock with an exercise price equal to $49.27, the closing
price per share of BioMarin's common stock as reported by NASDAQ on December
18, 2012, the date of grant. Each of the options is an incentive stock option
and will vest 6/48ths on the six month anniversary of the grant date and
1/48th per month thereafter for the 42 immediately following months, assuming
in each case the employee remains continuously employed by BioMarin. In
addition, the restricted stock units granted to the employees will vest in
equal installments annually over four years, assuming the employee remains
continuously employed by BioMarin. BioMarin is providing this information in
accordance with NASDAQ Listing Rule 5635(c)(4).

About BioMarin

BioMarin develops and commercializes innovative biopharmaceuticals for serious
diseases and medical conditions. The company's product portfolio comprises
four approved products and multiple clinical and pre-clinical product
candidates. Approved products include Naglazyme® (galsulfase) for
mucopolysaccharidosis VI (MPS VI), a product wholly developed and
commercialized by BioMarin; Aldurazyme® (laronidase) for mucopolysaccharidosis
I (MPS I), a product which BioMarin developed through a 50/50 joint venture
with Genzyme Corporation; Kuvan® (sapropterin dihydrochloride) Tablets, for
phenylketonuria (PKU), developed in partnership with Merck Serono, a division
of Merck KGaA of Darmstadt, Germany; and Firdapse™ (amifampridine), which has
been approved by the European Commission for the treatment of Lambert Eaton
Myasthenic Syndrome (LEMS). Product candidates include BMN-110
(N-acetylgalactosamine 6-sulfatase), formally referred to as GALNS, which
successfully completedPhase III clinical development for the treatment of MPS
IVA, PEG-PAL (PEGylated recombinant phenylalanine ammonia lyase), which is
currently in Phase II clinical development for the treatment of PKU, BMN-701,
a novel fusion protein of insulin-like growth factor 2 and acid alpha
glucosidase (IGF2-GAA), which is currently in Phase I/II clinical development
for the treatment of Pompe disease, BMN-673, a poly ADP-ribose polymerase
(PARP) inhibitor, which is currently in Phase I/II clinical development for
the treatment of genetically-defined cancers, and BMN-111, a modified
C-natriuretic peptide, which is currently in Phase I clinical development for
the treatment of achondroplasia. For additional information, please visit
www.BMRN.com. Information on BioMarin's website is not incorporated by
reference into this press release.

The BioMarin Pharmaceutical Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=11419

Forward Looking Statements

This press release contains certain forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995 regarding,
among other things, statements relating to plans, objectives and future
events. BioMarin intends such forward-looking statements to be covered by the
safe harbor provisions for forward-looking statements contained in Section 21E
of the Securities Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. Such statements include statements relating to
the expectations of revenue and sales; the timing of BioMarin's clinical
trials of GALNS and actions by regulatory authorities. These forward-looking
statements are based on the current expectations of the management of BioMarin
as of the date of this press release and are subject to risks, uncertainties,
changes in circumstances, assumptions and other factors that may cause the
actual results to be materially different from those indicated by such
forward-looking statements. Important factors that could cause actual results
to differ materially from those indicated by such forward-looking statements
include, among other, market risks. These and other risks are described in
greater detail in BioMarin's filings with the Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K for the year ended
December 31, 2011. Given these uncertainties, you should not place undue
reliance on these forward-looking statements. BioMarin assumes no obligation
to update its forward-looking statements, except as required by law.

BioMarin®, Naglazyme®, Kuvan® and Firdapse™ are registered trademarks of
BioMarin Pharmaceutical Inc.

Aldurazyme® is a registered trademark of BioMarin/Genzyme LLC.

CONTACT: Investors:
         Eugenia Shen
         BioMarin Pharmaceutical Inc.
         (415) 506-6570
        
         Media:
         Debra Charlesworth
         BioMarin Pharmaceutical Inc.
         415-455-7451

BioMarin Pharmaceutical Inc. Logo
 
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