BioMarin signs Ascendis license for 20% U.S. royalty

Royalties begin with the first commercial sale in each territory, apply retroactively where applicable, and continue until May 2030.

Rhea-AI Filing Summary

BioMarin Pharmaceutical Inc. entered into a Settlement and License Agreement with Ascendis Pharma A/S on September 24, 2026, granting Ascendis and its affiliates a non-exclusive, worldwide, transferable, royalty-bearing license to certain BioMarin patents. The license covers research, development, manufacture, use, sale and commercialization of products, methods or services containing C-type natriuretic peptide known as TransCon CNP, navepegritide or Yuviwel, for all current and potential indications.

Ascendis will pay royalties equal to 20% of annual net sales in the United States and 18% of annual net sales in the European Union, Brazil and South Korea, from the first commercial sale in each territory, retroactively as applicable, through May 2030. The agreement supersedes the parties’ term sheet and is deemed effective as of August 28, 2026. The parties will dismiss with prejudice all pending litigation between them relating to the BioMarin Patent Rights.

Filing Explained

Under the executed agreement, BioMarin releases pre-effective-date patent-infringement claims against Ascendis and agrees not to sue it for infringement; Ascendis agrees not to challenge the patents, and both parties accept a mutual regulatory non-interference clause.

8-K Event Classification

Item 1.01 — Entry into a Material Definitive Agreement

1 item

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Key Figures

U.S. royalty rate: 20% of annual net sales Royalty rate: 18% of annual net sales Royalty period end: May 2030 +1 more

4 metrics

U.S. royalty rate 20% of annual net sales Licensed Products in the United States

Royalty rate 18% of annual net sales Licensed Products in the European Union, Brazil and South Korea

Royalty period end May 2030 Royalties apply from the first commercial sale in each territory, retroactively as applicable

Agreement effective date August 28, 2026 The agreement is deemed effective as of this date

Key Terms

royalty-bearing license, annual net sales, C-type natriuretic peptide, regulatory non-interference clause, +1 more

5 terms

royalty-bearing license financial

"a non-exclusive, worldwide, transferable, royalty-bearing license"

A royalty-bearing license is a legal agreement that lets one party use another’s intellectual property—such as a patent, trademark, or copyrighted technology—in exchange for ongoing payments tied to sales, production, or a fixed fee per unit. For investors it signals a predictable cost and revenue sharing: licensors gain a steady income stream with lower operating risk, while licensees may face reduced margins but avoid large upfront development costs, like renting a recipe and paying per cake sold.

annual net sales financial

"20% of annual net sales"

C-type natriuretic peptide medical

"containing C-type natriuretic peptide"

C-type natriuretic peptide is a small, naturally occurring protein the body uses to relax blood vessels and regulate cell growth, especially in blood vessel walls and bone. Think of it as a local traffic cop that calms traffic and tells cells when to slow down dividing. For investors, it matters because drugs or tests that mimic or measure this peptide can become treatments or diagnostics for heart, vascular and growth disorders, affecting market value and regulatory risk.

regulatory non-interference clause regulatory

"a mutual regulatory non-interference clause"

dismiss with prejudice regulatory

"dismiss with prejudice all pending litigation"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What royalty rates will BioMarin receive under the BMRN agreement?

Ascendis will pay BioMarin royalties equal to 20% of annual net sales in the United States and 18% of annual net sales in the European Union, Brazil and South Korea. They apply from the first commercial sale in each territory, retroactively as applicable, through May 2030.

What happens to the litigation between BioMarin and Ascendis?

The parties will dismiss with prejudice all pending litigation between them relating to the BioMarin Patent Rights.

Which indications and uses are covered by BioMarin’s license to Ascendis?

The license covers all current and potential indications, including achondroplasia and hypochondroplasia, and use in combination with other medicines.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/30/2026 - 04:16 PM Accepted by SEC EDGAR 09/30/2026 - 04:15 PM Learn about SEC filing dates

0001048477false00010484772026-09-242026-09-24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 24, 2026

BioMarin Pharmaceutical Inc.

(Exact name of registrant as specified in its charter)

Delaware

000-26727

68-0397820

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification No.)

770 Lindaro Street

San Rafael

California

94901

(Address of Principal Executive Offices)

(Zip Code)

(415) 506-6700

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.001

BMRN

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On September 24, 2026, BioMarin Pharmaceutical Inc. (BioMarin) entered into a Settlement and License Agreement (the Agreement) with Ascendis Pharma A/S (Ascendis).

The terms of the Agreement are consistent with those contained in the binding term sheet previously entered into by the parties, which was reported by BioMarin on a Current Report on Form 8-K filed with the Securities and Exchange Commission on August 31, 2026 (the Term Sheet). The Agreement supersedes and replaces the Term Sheet and is deemed effective as of August 28, 2026 (the Effective Date).

In accordance with the Agreement and consistent with the previously reported terms and conditions of the Term Sheet, BioMarin has granted to Ascendis and its affiliates a non-exclusive, worldwide, transferable, royalty-bearing license to certain patents (the BioMarin Patent Rights) to research, develop, manufacture, use, sell, and commercialize any product, method, or service that includes the C-type natriuretic peptide known as “TransCon CNP,” “navepegritide,” or “Yuviwel” (collectively, the Licensed Products) for all current and potential indications, including achondroplasia and hypochondroplasia, and in combination with other medicines. In consideration for the rights and licenses granted to Ascendis, Ascendis will pay to BioMarin a royalty equal to 20% of annual net sales of Licensed Products in the United States and 18% of annual net sales of Licensed Products in the European Union, Brazil and South Korea, in each case, from the date of the first commercial sale in each territory (applied retroactively, as applicable) until May 2030.

Pursuant to the Agreement, the parties will also dismiss with prejudice all pending litigation between them relating to the BioMarin Patent Rights.

The Agreement also contains a mutual regulatory non-interference clause, a covenant by Ascendis to not challenge BioMarin’s Patent Rights, a release by BioMarin of claims against Ascendis for infringement of BioMarin’s Patent Rights prior to the Effective Date and a covenant not to sue Ascendis for infringement of BioMarin’s Patent Rights, and certain other terms that are customary for transactions of this nature.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements about the entry into the Agreement with Ascendis and the transactions contemplated therein, including, without limitation, statements about: the expected benefits of such transactions, including anticipated royalty payments; expectations regarding future commercialization of Licensed Products; and plans and expectations regarding the dismissal of the pending legal proceedings. These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others: BioMarin’s ability to enforce the Term Sheet or the Agreement; actual sales of Licensed Products; and those factors detailed in BioMarin’s filings with the Securities and Exchange Commission, including, without limitation, the factors contained under the caption “Risk Factors” in BioMarin’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, as such factors may be updated by any subsequent reports. Investors are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

						BioMarin Pharmaceutical Inc., a Delaware corporation
Date: September 30, 2026			By:			/s/ G. Eric Davis
						G. Eric Davis
						Executive Vice President, Chief Legal Officer

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.3 KB