The stocks 50-day moving average is $60.21 and its 200-day moving average is $67.14. The companys market cap is $9.078 billion. BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.44) by $0.43. The company had revenue of $151.60 million for the quarter, compared to the consensus estimate of $145.16 million.
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Will India Be the Uber of the Pharmaceutical Industry?|Dean Baker
In addition, as standard economic theory predicts, drug companies routinely exaggerate the effectiveness of their drugs and conceal evidence that it is less effective than advertised, or in some cases even harmful. And of course drug companies routinely make large campaign contributions to politicians to get government programs to buy their drugs, more generous patent protection, or other profit-enhancing favors. Given the enormous power of the pharmaceutical industry and the obscure nature of many of the issues involved, we could see drug prices continue to soar indefinitely, as the pharmaceutical industry takes an ever larger share of the family and government budget. But recent events in India offer hope. Last year India's Supreme Court rejected Novartis' patent on the cancer drug Gleevec, which sells for $80,000 a year in the United States. A high-quality Indian generic version sells for $1,000. The Indian court ruled that Gleevec didn't qualify for a patent because it was a combination drug, which used pre-existing chemicals rather than developing a new molecule. Last week India's patent office argued in the similar vein in rejecting a patent for Abraxane, another cancer drug.
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He is a member of the American Society for Cell Biology, American Society of Microbiology, American Society of Biochemistry and Molecular Biology, American Society of Tropical Medicine and Hygiene, American Society of Parasitologists, and the American Society of Immunologists. He currently serves on the editorial boards of Chemical Biology and Drug Design and PLoS Neglected Tropical Diseases. In July 2000, The University of California Board of Regents approved the establishment of the UC San Diego Skaggs School of Pharmacy and Pharmaceutical Sciences. The school matriculated the first class of twenty-five Doctor of Pharmacy (PharmD) students in the fall of 2002.
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