SAN RAFAEL, Calif., Aug. 24, 2016 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) announced today that it has been ranked 10th on Forbes magazine's 2016 list of the "World's Most Innovative Companies." This is the third consecutive year that BioMarin has received the recognition, acknowledging the company's ongoing commitment to rapidly developing and delivering first-in-class or best-in-class therapies for those with severe or life-threatening rare diseases. Last year, the company was also ranked 10th, and in 2014, the company ranked 7th.
"For nearly 20 years, BioMarin has been committed to making a big impact in the lives of small patient populations. We are pioneers in developing medicine for rare genetic diseases. We push the boundaries of science to change the course of devastating diseases," said Jean-Jacques Bienaimé, Chairman and Chief Executive Officer of BioMarin. "We are humbled to once again be recognized as a leader in innovation by Forbes. We look forward to continuing to provide underserved patients with treatment options that can make a meaningful difference in their lives."
Rankings are based on what Forbes calls the companies' "innovation premium," the difference between their market capitalization and a net present value of cash flows from current businesses. Forbes' method relies on investors' ability to identify companies they expect to be innovative now and in the future. The recognition only includes businesses that have at least seven years of financial data and a market value greater than $10 billion, and have measurable investment in research and development.
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BioMarin is a global biotechnology company that develops and commercializes innovative therapies for people with serious and life-threatening rare disorders. The company's portfolio consists of five commercialized products and multiple clinical and pre-clinical product candidates.
For additional information, please visit www.BMRN.com. Information on BioMarin's website is not incorporated by reference into this press release.
Contact: Investors: Traci McCarty BioMarin Pharmaceutical Inc. (415) 455-7558 Media: Debra Charlesworth BioMarin Pharmaceutical Inc. (415) 455-7451