BioMarin to cut ~225 jobs, incur $30-35M in severance costs by end of 2024

BIOMARIN PHARMACEUTICAL INC

Workforce reduction of ~225 employees committed on Aug 23, 2024, in organizational redesign.
Estimated pre-tax charges of $30-35M for severance and termination benefits, mostly in H2 2024.
Plan follows updated ROCTAVIAN strategy and discontinuation of BMN 293 development announced Aug 5, 2024.
Notifications completed by Aug 28, 2024; reductions expected substantially complete by end of 2024.

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