Health
BioMarin Rises as It Trims Spending on Fizzling Gene Therapy
BioMarin Pharmaceutical is relying on the growth of a drug that treats a type of dwarfism, amid disappointing sales of a drug used to treat hemophilia A.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
BioMarin Pharmaceutical Inc. rose in late trading after the company said it sees a path to profitability for its gene therapy for an inherited bleed disorder — in part by reducing investment in the drug.
The company said it will narrow its commercial focus for Roctavian, which treats hemophilia A, to three countries — the U.S., Germany and Italy — where it is approved and reimbursed. BioMarin will cut additional investments in development and manufacturing, according to a statement.