DOW JONES NEWSWIRES BioMarin Pharmaceutical Inc. (BMRN) will purchase an Irish biologics manufacturing facility from Pfizer Inc. (PFE) for $48.5 million to accommodate its growing portfolio of biopharmaceuticals. The company said the acquisition price of the plant, which was completed in 2009, represents roughly one-fifth the cost of building a new plant. "We believe that additional manufacturing capabilities beyond our current resources will be needed to support anticipated peak sales for GALNS, PEG-PAL for PKU, BMN 701 for Pompe disease, BMN 111 for achondroplasia, if they continue to progress to approval, and our other preclinical programs," said BioMarin Chief Executive Jean-Jacques Bienaime. In April, BioMarin swung to a first-quarter loss amid higher income and depreciation expenses. Shares slipped 1.6% to $25.30 in recent trading. Year to date, the stock is down 6%. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com
