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2/27/2023
Welcome to the Biomarin Fourth Quarter Investor Update Call. Hosting the conference call today for Biomarin is Tracy McCarthy, Group Vice President of Investor Relations. Please go ahead, Tracy.
Thank you, Paul, and thank you all for joining us today. To remind you, this non-confidential presentation contains forward-looking statements about the business prospects of Biomarin Pharmaceutical, Inc., including expectations regarding Biomarin's financial performance commercial products, and potential future products in different areas of therapeutic research and development. Results may differ materially depending on the progress of Biomarin's product programs, actions of regulatory authorities, availability of capital, future actions in the pharmaceutical market, and developments by competitors. And those factors detailed in Biomarin's filings with the Securities and Exchange Commission, such as 10Q, 10K, and 8K reports. We do plan to end this call promptly at 5.30 Eastern time. So please reach out if you have questions. On the call today from Biomarin's management team are JJ Bien-Aimé, Chairman and Chief Executive Officer, Jeff Ager, Executive Vice President, Chief Commercial Officer, Hank Fuchs, President, Worldwide Research and Development, Greg Geyer, Executive Vice President, Chief Technical Officer, and Brian Mueller, Executive Vice President and Chief Financial Officer. I will now turn the call over to our Chairman and CEO, JJ Bien-Aimé.
Thank you, Tracy, and good afternoon, everyone. Thank you for joining us on today's call. So as we communicated through our 2022, a truly transformative year for Bahamaran, we have built the foundation for accelerating growth, double-digit revenue growth, and a successful pivot to gap profitability. In 2022, we achieved all of our top and bottom-line guidance items, further underscoring our commitment to creating value for our patients, our employees, and our shareholders. Our high performance in 2022 will flow through 2023 and beyond, driven by our strongest global commercial launch on record with Voxogo and our profitable base enzyme business and the addition of Roptavian, a truly disruptive one-time gene therapy for those with severe hemophilia A. While the process of finalizing reimbursement in Germany has taken longer than expected, even the novelty of the approach at the patient level, we are very encouraged by the interest we are seeing for Rotavian. Ten patients have gone through a companion diagnostic testing in Germany as an important first step in the patient journey toward treatment. And in the United States, we are pleased to share that roughly 300 patients from the bleeding disorders community have engaged with Biomarine directly to learn more about Roktavian. Many of them may not ultimately be eligible for treatment, but it is a good indicator of awareness and interest in Roktavian ahead of potential approval this year. And Jeff will provide more detail in a moment, but suffice it to say that once the reimbursement side of the equation has been finalized, we are confident in both prescriber and patient interest in Roktavian. We are extremely pleased to have delivered $2.1 billion in total revenues for the full year 2022, a record financial achievement for Baumrand. We will build on this result in 2023 with an intention to deliver over 15% top-line growth and significant operating leverage, driving approximately 30% growth in bottom-line profitability based on the midpoint of our GAAP and non-GAAP guidance provided today. As planned, we have made the transition to an earning growth story, a unique accomplishment in the biotech industry, and we thank you for your continued support. And I will now turn the call over to Jeff to discuss the commercial business update. Jeff?
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