On the Line: BioMarin Pharma's CEO Jean Jacques Bienaime
BioMarin Pharmaceuticals should be profitable next year, CEO Jean Jacques Bienaime told Cramer Wednesday on Mad Money, thanks to the expected approval of a new drug.
The drug, Kuvan, has priority-review status with the Food & Drug Administration because of its "advanced medical need," Bienaime said. That means approval could come as soon as November, possibly putting BioMarin in the black for 2008.
Kuvan is a treatment for a metabolic disorder called phenylketonuria. Fifty thousand people eagerly await the drug’s approval because Kuvan will be the first treatment for the disease outside of a rigid diet.
“BMRN is not done going up,” Cramer said.
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the Mad Money website? email@example.com