BioMarin Pharmaceutical appoints Robert Plenge to board of directors

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) announced Monday that its board of directors has increased its size from ten to eleven members and appointed Robert Plenge, M.D., Ph.D., as a new director, effective September 10. Dr. Plenge has also been named to the board’s Science and Technology Committee.

As an independent non-employee director, Dr. Plenge will receive the standard fees and committee retainers provided to BioMarin’s non-employee directors, as outlined in the company’s proxy statement filed with the Securities and Exchange Commission on April 21, 2026.

Upon his appointment, Dr. Plenge was granted restricted stock units valued at $400,000 under BioMarin’s 2017 Equity Incentive Plan. The award represents a pro rata share of the 2026 annual grant for non-employee directors. The shares associated with this grant will vest immediately prior to the company’s next regular annual meeting of stockholders, in line with the vesting schedule for other non-employee directors.

BioMarin stated that it intends to enter into an indemnification agreement with Dr. Plenge, consistent with agreements in place for other directors.

According to the company, Dr. Plenge’s appointment was not made pursuant to any arrangement or understanding with any person, and there are no related party transactions requiring disclosure under SEC rules.

This information is based on a press release statement contained in a filing with the Securities and Exchange Commission.

In other recent news, BioMarin Pharmaceutical Inc. announced a global settlement with Ascendis Pharma, resolving all pending patent disputes related to Yuviwel, a once-weekly treatment for achondroplasia. As part of the settlement, BioMarin will receive royalties of 20% on net sales in the United States and 18% in the European Union, Brazil, and South Korea, retroactive to the first commercial sale through May 2030. This agreement has led to various analyst firms adjusting their outlooks on BioMarin. Piper Sandler increased its price target to $90 while maintaining an Overweight rating. Similarly, Jefferies raised its target to $105 and Canaccord reiterated a Buy rating with a $114 price target. Meanwhile, Morgan Stanley maintained an Overweight rating with a $124 price target, highlighting the settlement’s economic value for BioMarin. In contrast, H.C. Wainwright maintained a Neutral rating with a $60 price target, following competitor data on an infant treatment for achondroplasia. These developments provide investors with updated insights into BioMarin’s financial and strategic positioning.