BioMarin Pharmaceutical Inc. (BMRN)

[ghmm]

Heard the replay some things of note:
-Will cost ~4M annually to "moth ball" facility till get ready for GALNS production around 2015.
-Paid 50 million but think would cost 200-250 million to build. Think got cheap because of Wyeth acquisition (Wyeth had another plant there).
-Tax rate in Ireland ~12.5% (vs. 30's in US) so in couple years tax saving alone could pay for it.
-If facility used for GALNS could produce product for ~500 million/annual revenue (existing facilities and when current validation done expected by end of year would have ~1 Billion capacity so 1.5 Billion total).
-Facility has capability to be expanded to double capacity. No plans to do so at this time. Not clear if cheaper to do so or acquire other facility.
-GALNS trial looks good so far got about 1/2 sites initiated (don't recall exactly so may be off). Phase I/II patients still on therapy look good and plan to update during Q2 call in July.
-Facility could be modified to produce other products (e.g. Naglazyme/Aldurazyme) if necessary. Think process would take 12-18months (not sure exact going by memory). Changed process for Naglqazyme already so think can do so without running into problems of others (i.e. Genzyme).