On August 31, Biomarin Pharmaceutical rose 5.08% in pre-market trading, trading at $68.82/share, with turnover of $300,900.

The rally was driven by the announcement that Biomarin Pharmaceutical has entered into a binding global patent settlement agreement with Ascendis Pharma concerning the rare disease drug Yuviwel, used to treat linear growth failure. Under the terms of the deal, Ascendis will pay royalties of 20% on U.S. net sales and 18% on sales in the European Union, Brazil, and South Korea, with payment obligations extending through May 2030. The license covers all present and future indications for Yuviwel, including achondroplasia.

As part of the agreement, Biomarin Pharmaceutical will withdraw its Section 337 investigation at the U.S. International Trade Commission and terminate pending litigation in Germany, Denmark, Brazil, South Korea, and the U.S. District Court for the Northern District of California. The comprehensive resolution of all global intellectual property disputes removes significant legal overhang and establishes a clear recurring revenue stream from Ascendis, which the market views favorably.

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