NOVATO, Calif. , July 25, 2012 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) today announced that on July 16, 2012 , the compensation committee of BioMarin's board of directors approved the grant to two employees of stock options to purchase 13,400 shares of common stock in the aggregate and the grant of 1,310 restricted stock units to one of the employees. The stock options and restricted stock units were granted pursuant to the BioMarin Pharmaceutical Inc. 2012 Inducement Plan, approved by the compensation committee of BioMarin's board of directors on May 8, 2012 and as inducements material to the new employees entering into employment with BioMarin in accordance with NASDAQ Listing Rule 5635©(4).
BioMarin granted to each of the two employees an option to purchase shares of BioMarin's common stock with an exercise price equal to
BioMarin develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company's product portfolio comprises four approved products and multiple clinical and pre-clinical product candidates. Approved products include Naglazyme® (galsulfase) for mucopolysaccharidosis VI (MPS VI), a product wholly developed and commercialized by BioMarin; Aldurazyme® (laronidase) for mucopolysaccharidosis I (MPS I), a product which BioMarin developed through a 50/50 joint venture with
Forward Looking Statements
This press release contains certain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to plans, objectives and future events. BioMarin intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements include statements relating to the expectations of revenue and sales; the timing of BioMarin's clinical trials of GALNS and actions by regulatory authorities. These forward-looking statements are based on the current expectations of the management of BioMarin as of the date of this press release and are subject to risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results to be materially different from those indicated by such forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among other, market risks. These and other risks are described in greater detail in BioMarin's filings with the
BioMarin®, Naglazyme®, Kuvan® and Firdapse™ are registered trademarks of
Aldurazyme® is a registered trademark of
Eugenia Shen BioMarin Pharmaceutical Inc.(415) 506-6570 Media: Bob Purcell BioMarin Pharmaceutical Inc.(415) 506-3267
BioMarin Pharmaceutical Inc.