Baird Is a Buyer of BioMarin (BMRN) On Genzyme-Related Weakness
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Baird said they are buyers of BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) on weakness tied to Genzyme Corp. (Nasdaq: GENZ) Allston manufacturing suspension.
The firm notes, "Aldurazyme fill/finish was previously performed at this facility, but BMRN indicates Allston is now a secondary source and an outside, primary source has been validated for some time. Coupling this with BMRN's indication that at least a year's worth of Aldurazyme finished goods inventory is on hand, we see no impact to BMRN's revenue prospects."
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