BioMarin Surges as FDA Oks Injection for Improving Growth in Children
By Dhirendra Tripathi
Investing.com – Biomarin stock (NASDAQ:BMRN) soared 8% Friday as a U.S. regulator approved the company’s injection aimed at improving growth in children suffering from achondroplasia.
The condition, achondroplasia, is a genetic disorder affecting bone growth and is the most common form of disproportionate short stature.
Given the Food and Drug Administration has cleared the drug under its accelerated approval pathway, the company still needs to conduct a post-marketing study.
BioMarin's drug, Voxzogo, works by reducing the activity of a gene that prevents normal bone growth in patients with the disorder.
The European Commission had given the approval in August, making the drug the first therapeutic treatment for achondroplasia. Marketing authorization reviews are in process in Japan, Brazil, and Australia with potential approvals in these countries in 2022, the company said.
BioMarin said Voxzogo should be available in the U.S. by late-December.
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