Aldurazyme is already approved in the U.S. and Europe for treating MPS I, which is a fatal genetic disease characterized by the lack of enzyme alpha-L-iduronidase leading to a dangerous build up of complex carbohydrates in cells. The condition can cause pulmonary and cardiac failure, among other tissue and organ complications. Patients usually do no survive into adulthood
BioMarin entered into a partnership with Genzyme, whereby BioMarin is responsible for manufacturing Aldurazyme while Genzyme will commercialize the drug.
Shares of BioMarin closed Tuesday's trading a little over $16 a share ahead of the after-hours news release.
BMRN 1-yr chart: