The P/E is up there, but so are the sales growth in their three selling drugs. You have to factor in the orphan approval advantages given on both sides of the pond when all these drugs have orphan status. None of their drugs are cheap either. Thats the advantage to having orphan drugs in your portfolio once approved. You control the associated markets. BMRN is making steady (albeit slow) progress on the balance sheet front. They are pretty cash flush for their size.
That sales growth will sustain them until the next generation of drugs develop further (1.0-1.5 years). Just not going to be an explosive stock (more of a steady-freddy stock)unless bought out and nobody should ever bank on buyouts when playing biotech as a primary motivator to own.
The Genzyme rumor is always out there, but its not happened to date, and could happen anytime or never IMO!
I play on their sales growth that will slow one day down the road, but not expected by me for the next few quarters.
Not every owned stock can be dripping with excitment like DNDN or HGSI-LOL. Steady freddy!