Billionaire Andreas Halvorsen’s Top 15 Long-Term Stock Picks

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5. BioMarin Pharmaceutical Inc. (NYSE:BMRN)

Number of Hedge Fund Holders: 54    

Viking Global’s Stake: $685.6 million 

BioMarin Pharmaceuticals Inc. (NYSE:BMRN) develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. The following highlights demonstrate why the company is a compelling investment opportunity. The first thing that makes this company worthy of investment is robust financial growth. For instance, as illustrated in the report of the third quarter of 2024, total revenues were $746 million, an increase of 28%, compared to the same period in 2023, driven by strong VOXZOGO contributions from new patient starts in all regions. This impressive growth is driven by the strategic and operational decisions the company has made over the last nine months, and is driving strong performance, reflected in year-over-year revenue growth in the third quarter of 28% and accelerated profitability. Secondly, the company plans to make changes to its ROCTAVIAN business to focus commercial operations in three markets, the United States, Germany and Italy, where the medicine is approved and reimbursed as a treatment for severe hemophilia A. By focusing commercial, research and manufacturing programs, BioMarin anticipates reducing annual direct ROCTAVIAN expenses to approximately $60 million, beginning in 2025.

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