BioMarin Completes Partial Exchange of Convertible Notes Due 2017 for Common Stock

BioMarin Completes Partial Exchange of Convertible Notes Due 2017 for Common

SAN RAFAEL, Calif., March 18, 2013 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical
Inc. (Nasdaq:BMRN) announced today that seven holders of its 1.875%
Convertible Senior Subordinated Notes due 2017 have agreed to exchange
approximately $139.2 million in aggregate principal amount of the notes for
approximately 6.8 million shares of the Company's common stock. The notes
represented approximately 43% of the previously outstanding principal amount
of the notes.

The Company agreed to make a $7.8 million cash payment to the holders as an
inducement to convert the notes. The notes convert into shares of common stock
in accordance with the original terms of the notes at a conversion price of
approximately $20.36 per share. Due to the conversion of the notes, future
interest payments of $11.7 million will no longer be required, resulting in
$3.9 million in savings net of the inducement payments. The inducement payment
is neither an offer to exchange nor a solicitation of an offer to exchange any
of these securities. The exchanges are exempt from registration under Section
3(a)(9) of the Securities Act of 1933.

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 completed Phase 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 Information on BioMarin's website is not incorporated by
reference into this press release.

The BioMarin Pharmaceutical Inc. logo is available at

Forward-Looking Statement

This press release contains forward-looking statements about the business
prospects of BioMarin Pharmaceutical Inc., including, without limitation,
statements about: expectations regarding the redemption or conversion of a
portion of the company's debt; and the development of its product
candidates.These forward-looking statements are predictions and involve risks
and uncertainties such that actual results may differ materially from these
statements.These risks and uncertainties include, among others: results and
timing of current and planned clinical trials of its product candidates; the
content and timing of decisions by the U.S. Food and Drug Administration, the
European Medicines Agency and other regulatory authorities concerning its
product candidates; and those factors detailed in BioMarin's filings with the
Securities and Exchange Commission, including, without limitation, the factors
contained under the caption "Risk Factors" in BioMarin's 2012 Annual Report on
Form 10-K, as amended, and the factors contained in BioMarin's reports on Form
8-K.Stockholders are urged not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. BioMarin is under no
obligation, and expressly disclaims any obligation to update or alter any
forward-looking statement, whether as a result of new information, future
events or otherwise.

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
         Debra Charlesworth
         BioMarin Pharmaceutical Inc.
         (415) 455-7451

BioMarin Pharmaceutical Inc. Logo
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