BioMarin appoints Timothy P. Walbert to Board of Directors.
BioMarin Pharmaceutical Inc. recently announced its intention to offer $750 million aggregate principal amount of senior subordinated notes due in 2030. The company plans to use the net proceeds from the offering for general corporate purposes, including working capital, capital expenditures, research and development activities, and potential acquisitions.
The notes will be offered only to qualified institutional buyers in accordance with Rule 144A of the Securities Act of 1933 and to non-U.S. persons outside the United States in compliance with Regulation S of the Securities Act. The offering of the notes is subject to market conditions and other factors. The notes will bear interest semi-annually and will be the unsecured obligations of BioMarin Pharmaceutical Inc.
BioMarin is a global biotechnology company that focuses on developing and commercializing innovative therapies for patients with serious and life-threatening rare diseases. The company’s portfolio includes multiple approved products and a diverse pipeline of investigational therapies. BioMarin is committed to advancing science to deliver life-changing treatments and making a meaningful difference in the lives of patients and their families.
The company has experienced significant growth and success in recent years, driven by its dedication to research and development and its focus on rare genetic diseases. BioMarin’s innovative approach to drug development has led to the approval of several groundbreaking therapies that have transformed the lives of patients around the world. The company’s commitment to improving patient outcomes and addressing unmet medical needs has positioned it as a leader in the biotechnology industry.
BioMarin’s decision to offer senior subordinated notes reflects its strategic approach to capital management and its commitment to fueling future growth and innovation. By accessing the capital markets, the company can strengthen its financial position and support its ongoing research and development efforts. The proceeds from the offering will provide BioMarin with the flexibility and resources needed to continue advancing its pipeline of potential therapies and bringing new treatments to market.
In conclusion, BioMarin Pharmaceutical Inc.’s announcement of its intention to offer $750 million aggregate principal amount of senior subordinated notes due in 2030 represents a significant step in the company’s growth strategy. By raising additional capital through the offering, BioMarin can enhance its financial flexibility and support its mission of developing life-changing therapies for patients with rare genetic diseases. The company’s continued commitment to innovation and patient care positions it for long-term success in the biotechnology industry.
