BioMarin Sees $1.50 Q3 EPS Hit From Alesta Costs Ahead of Results

BioMarin Pharmaceutical Inc. expects costs tied to its Alesta Therapeutics acquisition to reduce third-quarter 2026 diluted earnings per share by about $1.50, giving investors a preliminary measure of the deal’s effect ahead of its Nov. 2 results webcast.

The quarterly estimate includes about $283 million in pretax acquired in-process research and development expense. BioMarin also expects ongoing operating expenses related to Alesta to contribute to the per-share reduction. The estimated impact is about $1.50 on both GAAP and non-GAAP diluted EPS. The company cautioned that its quarter-end financial close was incomplete and final figures could differ.

For full-year 2026, BioMarin estimates about $320 million in pretax Alesta-related charges. That total includes the acquired research and development expense as well as ongoing costs such as transaction and transition expenses. The company expects the charges to reduce both GAAP and non-GAAP diluted EPS by about $1.55 for the year.

BioMarin’s Aug. 6 guidance called for 2026 revenue of $3.875 billion to $3.925 billion and non-GAAP diluted EPS of $4.90 to $5.10. The outlook did not include the Alesta acquisition. BioMarin plans to update its full-year guidance with its third-quarter results.

BioMarin closed its Alesta deal Aug. 31, adding ALE1, an oral small molecule in Phase 1/2 testing for hypophosphatasia. BioMarin agreed to pay $275 million upfront, with up to $215 million in development and regulatory milestone payments.

BioMarin President and CEO Alexander Hardy is scheduled to host the results webcast at 4:30 p.m. ET (9:30 p.m. UTC) Monday, Nov. 2. In the second quarter, the company had $990 million in revenue, up 20% from a year earlier, and GAAP net income of $45 million, compared with $241 million in the year-earlier quarter.