BioMarin Announces Exercise by Underwriters of Full Over-Allotment Option

BioMarin Announces Exercise by Underwriters of Full Over-Allotment Option

SAN RAFAEL, Calif., Oct. 10, 2013 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical
Inc. (Nasdaq:BMRN) announced that the underwriters for its recently announced
public offering of $680 million of its senior subordinated convertible notes
consisting of $340 million 0.75% Senior Subordinated Convertible Notes due
2018 (the "2018 Notes") and $340 million 1.50% Senior Subordinated Convertible
Notes due 2020 (the "2020 Notes" and together with the 2018 Notes, the
"Notes") exercised in full their over-allotment option to purchase an
additional $35 million principal amount of the 2018 Notes (the "Additional
2018 Notes") and an additional $35 million principal amount of the 2020 Notes
(the "Additional 2020 Notes," and together with the Additional 2018 Notes, the
"Additional Notes"). BioMarin intends to use the additional net proceeds of
$67.9 million from the exercise of the over-allotment option for general
corporate purposes, including working capital and research and development.In
addition, BioMarin intends to use $2.78 million of the net proceeds from the
exercise of the over-allotment option for the payment of the cost of the
additional capped call transactions described below. The sale of the Notes and
the Additional Notes is expected to close on October 15, 2013, subject to the
satisfaction of customary closing conditions.

In connection with the exercise of the over-allotment option by the
underwriters for the purchase of the Additional Notes, BioMarin entered into
privately-negotiated capped call transactions with respect to 50% of the
principal amount of the Additional Notes with one or more of the underwriters
or their affiliates (the "hedge counterparties").The capped call transactions
are generally expected to reduce potential dilution to BioMarin's common stock
upon conversion of the relevant Notes in excess of the principal amount of
such converted Notes.The cap price of the capped call transactions entered
into with respect to 50% of the Additional Notes will initially be, in each
case, approximately $121.05, which represents a premium of approximately 80%
over the NASDAQ closing price of a share of BioMarin's common stock on October
8, 2013 and is subject to certain adjustments under the terms of such capped
call transactions.

BioMarin has been advised by the hedge counterparties that in connection with
establishing their initial hedges of the additional capped call transactions,
the hedge counterparties (or their affiliates) expect to enter into various
derivative transactions with respect to BioMarin's common stock concurrently
with, and/or purchase shares of BioMarin's common stock shortly after, the
pricing of the relevant Notes. These activities could have the effect of
increasing, or reducing the size of any decrease in, the price of the relevant
Notes and/or BioMarin's common stock concurrently with, or shortly after, the
pricing of the relevant Notes.

The offering of the Notes has been registered under the Securities Act of
1933, as amended, and for additional information about the Notes, the offering
and the capped call transactions, BioMarin refers you to its Registration
Statement on Form S-3, which BioMarin filed with the Securities and Exchange
Commission on October 7, 2013 and which became immediately effective on the
same date.The final prospectus may be obtained from BofA Merrill Lynch, 222
Broadway, New York, NY 10038, Attn: Prospectus Department, or e-mail
dg.prospectus_requests@baml.com; from Goldman, Sachs & Co., 200 West Street,
New York, NY 10282, or e-mail prospectus-ny@ny.email.gs.com; from J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by calling (866) 803-9204; or from Morgan Stanley & Co.
LLC, 180 Varick Street, New York, NY 10014, Attn: Prospectus Delivery
Department, or email prospectus@morganstanley.com.

This press release shall not constitute an offer to sell or a solicitation of
an offer to buy the Notes or any other securities, nor shall there be any sale
of the Notes or any other securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.The
offering and sale of the Notes will be made pursuant to the effective shelf
registration statement and only by means of the prospectus supplement and the
accompanying prospectus.

Forward-Looking Statement

This press release contains forward-looking statements about the business
prospects of BioMarin Pharmaceutical Inc., including, without limitation,
statements related to the public offering of senior subordinated convertible
notes, BioMarin entering into a privately negotiated capped call transactions,
statements regarding BioMarin's intentions regarding the use of proceeds from
the offering and the anticipated closing date of the offering. 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 actual results of BioMarin to be materially different from
those reflected in the forward-looking statements. Important factors that
could cause actual results to differ materially from those indicated by such
forward-looking statements include, among others, market risks. These and
other risks are discussed in BioMarin's filings with the Securities and
Exchange Commission, including, without limitation, BioMarin's 2012 Annual
Report on Form 10-K, and our periodic reports on Form 10-Q and Form 8-K as
well as the risks identified in the registration statement and the final
prospectus relating to the offering. Given these uncertainties, you should not
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:
         Traci McCarty
         BioMarin Pharmaceutical Inc.
         (415) 455-7558
        
         Media:
         Debra Charlesworth
         BioMarin Pharmaceutical Inc.
         (415) 455-7451

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