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

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

SAN RAFAEL, Calif., March 25, 2013 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical
Inc. (Nasdaq:BMRN) announced today that an additional six holders of its
1.875% Convertible Senior Subordinated Notes due 2017 have agreed to exchange
$75.8 million in aggregate principle amount of the notes for approximately 3.7
million shares of the Company's common stock. This, combined with the seven
holders that exchanged $139.2 million in aggregate principal amount of the
notes for approximately 6.8 million shares of the Company's common stock,
yields a total of $215.0 million in aggregate principal amount of the notes
exchanged for approximately 10.6 million shares of common stock. The notes
represented approximately 66% of the previously outstanding principal amount.
Approximately $110 million of the notes remain outstanding as of March 22,
2013.

The notes converted into shares of common stock in accordance with the
original terms of the notes at a conversion price of approximately $20.36 per
share. The total cash payment for conversion of the $75.8 million in aggregate
principal amount of the notes was $4.2 million, with $6.4 million in total
interest savings from accrued and future interest payments that will no longer
be required, resulting in $2.2 million in net savings to BioMarin. The total
combined cash payments made for these thirteen note conversions was $12.0
million, with $18.1 million of total interest savings from accrued and future
interest payments that will no longer be required, resulting in $6.1 million
total net savings to BioMarin. 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
www.BMRN.com. Information on BioMarin's website is not incorporated by
reference into this press release.

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

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