On the Line: BioMarin Pharma's CEO Jean Jacques Bienaime
Web Editor, "Mad Money"
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? email@example.com
Questions, comments, suggestions for the Mad Money website? firstname.lastname@example.org