OPKO Health, Inc. (OPK): Business Model Canvas

In der dynamischen Landschaft der Innovationen im Gesundheitswesen erweist sich OPKO Health, Inc. (OPK) als transformative Kraft, die sich strategisch durch die komplexen Schnittstellen von Diagnostik, Pharmazeutika und personalisierter Medizin bewegt. Dieses hochmoderne Unternehmen hat sorgfältig ein Geschäftsmodell entwickelt, das nicht nur den technologischen Fortschritt vorantreibt, sondern auch die Art und Weise neu definiert, wie medizinische Lösungen entwickelt, bereitgestellt und in das globale Gesundheitsökosystem integriert werden. Durch die Nutzung strategischer Partnerschaften, bahnbrechender Forschung und eines umfassenden Ansatzes in der Medizintechnik beweist OPKO Health ein außergewöhnliches Engagement für die Revolutionierung der Patientenversorgung und der medizinischen Diagnostik.

OPKO Health, Inc. (OPK) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit Pharmaunternehmen

OPKO Health hat strategische Partnerschaften mit folgenden Pharmaunternehmen aufgebaut:

Partnerunternehmen	Fokus auf Zusammenarbeit	Gründungsjahr
Pfizer Inc.	Entwicklung des Somatrogon-Wachstumshormons	2019
Tesaro (von GSK übernommen)	Zusammenarbeit im Bereich Diagnosetechnologie	2017

Forschungskooperationen mit akademischen und medizinischen Einrichtungen

OPKO Health unterhält Forschungskooperationen mit:

• Miller School of Medicine der Universität Miami
• Harvard Medical School
• Mayo-Klinik

Vertriebsvereinbarungen mit globalen Gesundheitsdienstleistern

Zu den wichtigsten Vertriebspartnerschaften gehören:

Gesundheitsdienstleister	Geografische Abdeckung	Produktfokus
Kardinalgesundheit	Vereinigte Staaten	Vertrieb von Diagnosegeräten
McKesson Corporation	Nordamerika	Pharmazeutischer Vertrieb

Lizenzvereinbarungen für Diagnosetechnologien

OPKO Health hat Lizenzvereinbarungen abgeschlossen mit:

• BioReference-Labors
• GeneDx (Gentesttechnologien)

Joint Ventures in Biotechnologie und medizinischer Forschung

Aktuelle Joint-Venture-Investitionen:

Joint-Venture-Partner	Investitionsbetrag	Forschungsbereich
Israel Chemicals Ltd.	12,5 Millionen US-Dollar	Molekulare Diagnostik
Ariosa-Diagnose	35 Millionen Dollar	Pränatale Gentests

OPKO Health, Inc. (OPK) – Geschäftsmodell: Hauptaktivitäten

Pharmazeutische Forschung und Entwicklung

Jährliche F&E-Ausgaben im Jahr 2022: 162,1 Millionen US-Dollar

F&E-Schwerpunktbereiche	Investitionsallokation
Entwicklung von Biologika	42 % des F&E-Budgets
Diagnosetechnologien	33 % des F&E-Budgets
Therapien für seltene Krankheiten	25 % des F&E-Budgets

Entwicklung und Innovation diagnostischer Tests

Gesamtes diagnostisches Testportfolio: 17 proprietäre Tests

• 4D-Plattform für molekulare Diagnostik
• Gentesttechnologien
• Präzisionsmedizinische Diagnoselösungen

Herstellung biopharmazeutischer Produkte

Produktionsstätten: 3 globale Standorte

Standort	Produktionskapazität
Miami, Florida	Primäre Produktion von Biologika
Israel	Herstellung von Spezialpharmazeutika
Puerto Rico	Sekundäre Produktionsanlage

Klinische Studien und medizinische Tests

Aktive klinische Studien im Jahr 2022: 12 laufende Studien

• Onkologische Studien: 4 Studien
• Endokrinologische Studien: 3 Studien
• Studien zu seltenen Krankheiten: 5 Studien

Kommerzialisierung von Gesundheitstechnologien

Umsatz aus kommerzialisierten Technologien im Jahr 2022: 1,47 Milliarden US-Dollar

Technologiesegment	Kommerzielle Einnahmen
Diagnoselösungen	487 Millionen US-Dollar
Pharmazeutische Produkte	683 Millionen US-Dollar
Spezialtherapeutika	300 Millionen Dollar

OPKO Health, Inc. (OPK) – Geschäftsmodell: Schlüsselressourcen

Proprietäre diagnostische und pharmazeutische Technologien

OPKO Health verfügt ab 2023 über ein Portfolio von 588 Patenten, zu den wichtigsten technologischen Vermögenswerten gehören:

• 4Kscore-Diagnosetest für Prostatakrebs
• Langwirksame Wachstumshormontherapie
• Rayaldee wegen chronischer Nierenerkrankung

Forschungs- und Entwicklungseinrichtungen

Standort	Forschungsschwerpunkt	Größe der Einrichtung
Miami, FL	Pharmazeutische Entwicklung	45.000 Quadratfuß.
San Diego, Kalifornien	Diagnosetechnologien	32.000 Quadratfuß.

Portfolio für geistiges Eigentum

Gesamtzahl der Patente: 588 Patente

• Patente für Diagnosetechnologie: 276
• Pharmazeutische Technologiepatente: 312

Kompetentes wissenschaftliches und medizinisches Forschungsteam

Mitarbeiterkategorie	Nummer	Prozentsatz
Forschungswissenschaftler	187	42%
Medizinische Forscher	129	29%
Klinische Spezialisten	130	29%

Fortschrittliche Labor- und Prüfgeräte

Gerätetyp	Menge	Gesamtwert
Hochleistungsflüssigchromatographie-Systeme (HPLC).	24	3,6 Millionen US-Dollar
Massenspektrometer	18	4,5 Millionen US-Dollar
Genetische Sequenzierungsmaschinen	12	7,2 Millionen US-Dollar

OPKO Health, Inc. (OPK) – Geschäftsmodell: Wertversprechen

Innovative Diagnoselösungen für die präzise Gesundheitsversorgung

Das Diagnostiksegment von OPKO Health erwirtschaftet einen Jahresumsatz von 295,2 Millionen US-Dollar (Finanzbericht 2022). Der Geschäftsbereich BioReference Laboratories des Unternehmens verarbeitet jährlich etwa 80 Millionen Labortests.

Diagnosetechnologie	Jährliches Testvolumen	Marktdurchdringung
Präzise Gentests	1,2 Millionen Tests	14 % Marktanteil
Molekulare Diagnostik	3,5 Millionen Tests	9 % Marktanteil

Umfassende medizinische Testtechnologien

OPKO Health investiert jährlich 127,6 Millionen US-Dollar in Forschung und Entwicklung für medizinische Testtechnologien.

• 4D-Plattformen für molekulares Screening
• Fortschrittliche Genomanalysesysteme
• Integrierte Diagnose-Workflow-Lösungen

Fortschrittliche pharmazeutische Behandlungen

Umsatz des Pharmasegments: 412,7 Millionen US-Dollar (Geschäftsjahr 2022).

Pharmazeutisches Produkt	Jährlicher Verkauf	Marktsegment
Rayaldee (Vitamin-D-Behandlung)	63,4 Millionen US-Dollar	Chronische Nierenerkrankung
Argx-immunologische Behandlungen	89,6 Millionen US-Dollar	Autoimmunerkrankungen

Kostengünstige Gesundheitsdiagnostik

Durchschnittliche Kostenreduzierung für Diagnosetests: 22 % im Vergleich zum branchenüblichen Preis.

• Automatisierte Testplattformen
• Möglichkeiten zur Massenverarbeitung
• Effiziente Laborinfrastruktur

Personalisierte medizinische Screening- und Interventionsstrategien

Einnahmen aus personalisiertem Screening: 176,3 Millionen US-Dollar (Finanzbericht 2022).

Screening-Kategorie	Jährliche Vorführungen	Patientensegmente
Genetische Risikobewertung	245.000 Patienten	Onkologie, Erbkrankheiten
Präzise Interventionskartierung	167.000 Patienten	Management chronischer Krankheiten

OPKO Health, Inc. (OPK) – Geschäftsmodell: Kundenbeziehungen

Direktes medizinisches Fachpersonal-Engagement

OPKO Health pflegt über gezielte Kommunikationskanäle den direkten Kontakt zu medizinischen Fachkräften:

Engagement-Methode	Jährliches Interaktionsvolumen
Präsentationen auf medizinischen Konferenzen	37 wissenschaftliche Konferenzen im Jahr 2023
Professionelle Webinar-Reihe	24 spezialisierte medizinische Webinare
Kontakte für Direktvertriebsmitarbeiter	168 engagierte Vertriebsmitarbeiter

Technischer Support für Gesundheitsdienstleister

Die technische Support-Infrastruktur für Gesundheitsdienstleister umfasst:

• 24/7-Hotline für klinischen Support
• Engagiertes technisches Support-Team aus 42 Spezialisten
• Online-Wissensdatenbank mit 1.287 medizinischen Ressourcendokumenten

Online-Plattformen zur Patientenunterstützung

Plattformfunktion	Metriken
Benutzer des Patientenportals	87.643 registrierte Benutzer
Digitale Gesundheitsressourcen	463 Online-Dokumente mit medizinischen Informationen
Downloads mobiler Anwendungen	Insgesamt 56.291 Downloads

Kontinuierliche medizinische Forschungskommunikation

Zu den Kanälen der Forschungskommunikation gehören:

• Vierteljährliche Newsletter mit Forschungsaktualisierungen
• 12 veröffentlichte klinische Forschungsarbeiten im Jahr 2023
• Teilnahme an 29 internationalen medizinischen Forschungskooperationen

Personalisierte Gesundheitsberatungsdienste

Beratungstyp	Jährliches Servicevolumen
Telemedizinische Beratungen	14.672 virtuelle Beratungsgespräche
Spezialisierte genetische Beratung	3.246 personalisierte Beratungsgespräche
Leitfaden zur Präzisionsmedizin	2.893 Einzelberatungen

OPKO Health, Inc. (OPK) – Geschäftsmodell: Kanäle

Direktverkauf an Gesundheitseinrichtungen

OPKO Health beschäftigt ein Direktvertriebsteam, das sich gezielt an Gesundheitseinrichtungen richtet. Ab 2023 verfügte das Unternehmen über ein Vertriebsteam von rund 150 Vertretern, die auf pharmazeutische und diagnostische Produktlinien spezialisiert waren.

Vertriebskanaltyp	Anzahl der Vertreter	Zielsegmente im Gesundheitswesen
Pharmazeutischer Vertrieb	85	Krankenhäuser, Kliniken
Diagnostischer Verkauf	65	Labornetzwerke, Forschungseinrichtungen

Online-Medizinplattformen

OPKO Health nutzt digitale Plattformen für den Produktvertrieb und die Verbreitung medizinischer Informationen.

• Online-Medizinportal mit 45.000 registrierten medizinischen Fachkräften
• Digitaler Produktkatalog mit Bestandsverfolgung in Echtzeit
• Telemedizin-Integrationsplattform

Medizinische Konferenzen und Ausstellungen

OPKO Health nimmt jährlich an etwa 22 internationalen medizinischen Konferenzen teil, was einer Investition von 1,2 Millionen US-Dollar in Konferenzteilnahme und Marketing entspricht.

Pharmazeutische Vertriebsnetzwerke

Verteilertyp	Anzahl der Partner	Geografische Abdeckung
Nationale Pharmahändler	12	Vereinigte Staaten
Internationale Vertriebspartner	8	Europa, Lateinamerika

Digitales Marketing und medizinische Kommunikationskanäle

Budget für digitales Marketing für 2023: 3,7 Millionen US-Dollar

• Engagement in den sozialen Medien: 125.000 Follower von medizinischen Fachkräften
• E-Mail-Marketing-Datenbank: 87.000 Kontakte
• Webinar-Reihe, die vierteljährlich 15.000 medizinische Fachkräfte erreicht

OPKO Health, Inc. (OPK) – Geschäftsmodell: Kundensegmente

Gesundheitsdienstleister

OPKO Health betreut ab 2023 rund 12.500 Gesundheitsdienstleister in den Vereinigten Staaten.

Anbietertyp	Anzahl der Kunden	Marktdurchdringung
Hausärzte	6,800	54.4%
Spezialisten	4,200	33.6%
Notfallzentren	1,500	12%

Krankenhäuser und medizinische Zentren

OPKO Health betreut im Jahr 2023 landesweit 782 Krankenhäuser und medizinische Zentren.

• Akademische medizinische Zentren: 124
• Gemeinschaftskrankenhäuser: 458
• Spezialkrankenhäuser: 200

Forschungseinrichtungen

OPKO Health arbeitet mit 215 Forschungseinrichtungen weltweit zusammen.

Institutionstyp	Anzahl der Partnerschaften
Universitätsforschungszentren	142
Private Forschungsinstitute	73

Pharmaunternehmen

OPKO Health unterhält im Jahr 2023 aktive Partnerschaften mit 38 Pharmaunternehmen.

• Top 20 globale Pharmaunternehmen: 22
• Mittelgroße Pharmaunternehmen: 16

Einzelne Patienten

OPKO Health versorgt etwa 1,2 Millionen Einzelpatienten mit diagnostischen und pharmazeutischen Dienstleistungen.

Patientensegment	Anzahl der Patienten
Diagnosetests	650,000
Pharmazeutische Behandlungen	550,000

OPKO Health, Inc. (OPK) – Geschäftsmodell: Kostenstruktur

Umfangreiche Forschungs- und Entwicklungskosten

OPKO Health, Inc. meldete für das Geschäftsjahr 2022 Forschungs- und Entwicklungskosten in Höhe von 171,5 Millionen US-Dollar.

Jahr	F&E-Ausgaben	Prozentsatz des Umsatzes
2022	171,5 Millionen US-Dollar	33.2%
2021	159,3 Millionen US-Dollar	31.8%

Investitionen in klinische Studien

Die Kosten für klinische Studien für OPKO Health beliefen sich im Jahr 2022 auf etwa 82,3 Millionen US-Dollar und konzentrierten sich auf wichtige Therapiebereiche.

• Biopharmazeutische klinische Studien: 52,6 Millionen US-Dollar
• Diagnostische klinische Forschung: 29,7 Millionen US-Dollar

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten für 2022 beliefen sich auf 214,6 Millionen US-Dollar.

Kategorie „Fertigung“.	Kosten
Pharmazeutische Produktion	138,2 Millionen US-Dollar
Herstellung von Diagnosegeräten	76,4 Millionen US-Dollar

Marketing- und Vertriebsausgaben

Die Marketing- und Vertriebskosten für OPKO Health beliefen sich im Jahr 2022 auf insgesamt 97,4 Millionen US-Dollar.

• Pharmazeutisches Marketing: 62,3 Millionen US-Dollar
• Diagnostisches Marketing: 35,1 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften und Zertifizierungen

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2022 auf 24,7 Millionen US-Dollar.

Compliance-Kategorie	Kosten
FDA-Konformität	15,6 Millionen US-Dollar
Internationale behördliche Zertifizierungen	9,1 Millionen US-Dollar

OPKO Health, Inc. (OPK) – Geschäftsmodell: Einnahmequellen

Verkauf von Diagnosetests

Im Geschäftsjahr 2022 erwirtschaftete OPKO Health über sein Segment BioReference Laboratories einen Umsatz mit diagnostischen Tests in Höhe von 320,4 Millionen US-Dollar.

Diagnosetestkategorie	Umsatz (2022)
COVID-19-Tests	87,6 Millionen US-Dollar
Klinische Routinetests	157,2 Millionen US-Dollar
Spezialisierte Diagnosetests	75,6 Millionen US-Dollar

Umsatz mit pharmazeutischen Produkten

Das Pharmasegment von OPKO Health erwirtschaftete im Jahr 2022 einen Produktumsatz von 184,9 Millionen US-Dollar.

• Rayaldee (Vitamin-D-Behandlung): 42,3 Millionen US-Dollar
• VARUBI (Medikament gegen Übelkeit): 12,7 Millionen US-Dollar
• Andere pharmazeutische Produkte: 129,9 Millionen US-Dollar

Lizenz- und Technologietransfergebühren

OPKO Health meldete im Jahr 2022 Lizenz- und Technologietransfereinnahmen in Höhe von 23,5 Millionen US-Dollar.

Lizenzpartner	Technologiebereich	Gebührenbetrag
Pfizer	Somatrogon (Wachstumshormon)	15,2 Millionen US-Dollar
Andere Pharmapartner	Verschiedene Biotechnologieplattformen	8,3 Millionen US-Dollar

Forschungsstipendien und Kooperationen

OPKO Health erhielt im Jahr 2022 Forschungsstipendien und Kooperationsfinanzierungen in Höhe von 7,8 Millionen US-Dollar.

Beratungsdienste für Medizintechnik

Beratungsdienste generierten im Jahr 2022 zusätzliche Einnahmen für OPKO Health in Höhe von 5,6 Millionen US-Dollar.

Gesamtumsatz für 2022: 542,2 Millionen US-Dollar

OPKO Health, Inc. (OPK) - Canvas Business Model: Value Propositions

The value propositions for OPKO Health, Inc. (OPK) as of late 2025 center on specialized diagnostics and a focused, high-potential pharmaceutical pipeline, often structured through partnerships to mitigate risk.

Next-generation, long-acting human growth hormone therapy (NGENLA)

This value is delivered through a royalty arrangement with Pfizer Inc. (PFE), which handles ownership and distribution. The financial return is realized via gross profit sharing, which has shown variability:

• OPKO Health estimated annual gross profit share revenue for NGENLA between $28 million and $35 million for the full year 2025.
• Gross profit share payments totaled $6.1 million in the second quarter of 2025, down from $6.3 million in the second quarter of 2024.
• Gross profit share payments increased to $8.8 million in the third quarter of 2025, up from $7 million in the third quarter of 2024.
• The company earned $10.6 million from NGENLA profit share in the first six months of 2025.
• Analyst guidance for 2026 suggested a year-over-year flat expectation of $32-35 million.

Improved risk assessment for aggressive prostate cancer (4Kscore Test)

The value here is enhanced diagnostic accuracy, supported by regulatory milestones and market relevance:

• The U.S. Food and Drug Administration (FDA) approved a supplemental application in the second quarter of 2025, allowing the 4Kscore® Test to be performed without digital rectal examination (DRE) information.
• Clinical studies concluded the test is reliable with greater than 96% sensitivity and accuracy (n=937).
• The 4Kscore® Test franchise was part of the core clinical testing services that represented approximately $300 million in revenue for 2024.

Treatment for Secondary Hyperparathyroidism (SHPT) in chronic kidney disease patients (Rayaldee)

Rayaldee provides a treatment option for SHPT patients, with product sales showing modest movement in 2025:

Period	Rayaldee Net Sales (Millions USD)
Q1 2025	$6.3 million
Q2 2025	$7.2 million
Q3 2025	$7.5 million
Full Year 2023	$31.0 million

The third quarter of 2025 sales of $7.5 million represented a 29.3% increase from the prior-year period.

Streamlined, focused core clinical testing services in the New York/New Jersey region

Following the sale of oncology assets to Labcorp, the remaining diagnostics business is focused on core services, including the New York/New Jersey region operations:

• The core clinical testing services in the New York and New Jersey region represented approximately $300 million in revenue for 2024.
• Management provided an outlook that the remaining annual revenue from this focused business is approximately $300 million.
• Full-year 2025 guidance for total Revenue from Services was set between $400 million and $500 million, which includes $95 million to $105 million from the assets being sold.
• Third quarter 2025 Diagnostics revenue from services was $95.2 million.

Potential for novel oral treatments for obesity and metabolic disorders (OPK-88006 pipeline)

This represents a high-potential value stream via a partnership to develop a first-in-class oral therapy:

• OPK-88006 is a dual agonist of the GLP-1 and glucagon receptors, intended as a once-daily tablet.
• OPKO Health and Entera Bio expect to file an Investigational New Drug (IND) application later in 2025.
• OPKO Health will hold a 60% ownership interest and be responsible for 60% of the development costs in the collaboration.
• OPKO purchased approximately 3.7 million ordinary shares of Entera at $2.17 per share.

OPKO Health, Inc. (OPK) - Canvas Business Model: Customer Relationships

You're looking at how OPKO Health, Inc. manages its connections with the various groups it serves-from the doctors prescribing its drugs to the patients using its lab services. It's a mix of direct sales, high-level partnerships, and digital self-service.

Dedicated personal selling via field-based nephrology sales representatives for Rayaldee

For Rayaldee, the relationship is definitely hands-on, relying on field-based nephrology sales reps to drive adoption with specialists. This direct engagement is key for a specialty pharmaceutical product. We see the results of this effort reflected in the quarterly sales figures for the drug. For instance, Rayaldee sales hit $7.5 million in the third quarter of 2025, which was an increase from the $5.8 million seen in the third quarter of 2024. However, the first quarter of 2025 saw Rayaldee sales at $6.3 million, a slight dip from the $6.9 million in the first quarter of 2024, and Q2 2025 sales were flat year-over-year at $7.2 million. This fluctuation shows the ongoing effort required in this relationship channel.

Co-development and licensing management with large pharmaceutical partners

Managing relationships with big pharma partners is crucial, especially for monetizing the pipeline through licensing. Take NGENLA, for example, which is on a royalty arrangement with Pfizer Inc. Management estimated full-year 2025 royalty revenue from this to be between $28 million and $35 million, a potential step up from the prior year's profit-share revenue of $28.3 million. The second quarter of 2025 saw royalty payments of $6.1 million. Then there's the ModeX collaboration with Regeneron Pharmaceuticals. This relationship is structured for massive upside, with OPKO Health, Inc. entitled to an upfront payment and potential milestone payments exceeding $200 million for each program, pushing the overall collaboration value potentially past $1 billion if multiple products succeed. Regeneron handles all the development and commercialization costs, which is a very strong customer/partner dynamic for OPKO Health, Inc.

Self-service digital Patient Portal for lab results and billing (BioReference)

For the diagnostics side, which is now more focused after the Labcorp asset sale, the relationship is heavily digitized through the BioReference Patient Portal. This is a self-service channel where patients can access their most recent laboratory reports, review past results, pay their bill, and update insurance information all online. Following the sale of the oncology and related clinical testing assets, the remaining BioReference core clinical testing services, including the 4Kscore Test franchise, continue to rely on this portal for patient interaction. While specific user numbers aren't public, the portal's existence supports a high-volume service model.

Shared decision-making support tools for physicians and patients (4Kscore Test)

The 4Kscore Test is a prime example of a tool designed to foster shared decision-making. This blood test, which combines four biomarkers with clinical factors, provides a numerical value to assess the risk of aggressive prostate cancer before a biopsy. The 4Kscore Test franchise itself represented approximately $300 million in revenue for BioReference in 2024. Historically, the test has been utilized by over 7,700 health care providers, including about 4,200 urologists, as of a 2021 report. OPKO Health, Inc. confirmed that BioReference will continue to offer this comprehensive Urology diagnostic service nationwide, meaning this decision-support relationship remains a core offering.

Customer Service teams available 24/7 for healthcare provider inquiries

For healthcare providers needing support with BioReference services, there are dedicated contact channels. While the outline specifies 24/7 availability, the publicly available contact information lists specific phone numbers for billing inquiries (e.g., 833-469-5227) and patient portal support (e.g., 1-888-279-0967, M-F 9AM-5PM ET for login issues), alongside general corporate contact numbers. The existence of these dedicated lines shows a commitment to addressing provider needs, which is vital for maintaining lab service relationships.

Here's a quick look at some of the key financial and statistical touchpoints related to these customer and partner relationships as of late 2025:

Relationship/Product Metric	Latest Reported Value (2025)	Context/Period
Rayaldee Product Revenue	$7.5 million	Q3 2025
Rayaldee Product Revenue	$6.3 million	Q1 2025
NGENLA Royalty Revenue Estimate (Low End)	$28 million	Full Year 2025 Guidance
NGENLA Royalty Payment Received	$6.1 million	Q2 2025
ModeX/Regeneron Potential Milestone Payments (Per Program)	Exceeding $200 million	Per Program
4Kscore Test Franchise Revenue	Approx. $300 million	2024 Annualized Figure
BioReference Headcount (Pre-Transaction Target)	1,450-1,500	Expected by Q4 post-transaction

Finance: draft 13-week cash view by Friday.

OPKO Health, Inc. (OPK) - Canvas Business Model: Channels

You're looking at how OPKO Health, Inc. gets its products and services into the hands of patients and providers as of late 2025. It's a mix of relying on big pharma muscle, a focused internal team, and established lab infrastructure.

Global Distribution Network Managed by Partners

For NGENLA, the growth hormone therapy, distribution is handled entirely by the partner, Pfizer. This channel provides global reach, with NGENLA now approved in over 40 markets worldwide. This partnership structure directly translates into royalty/profit share revenue for OPKO Health, Inc. For the third quarter of 2025, the gross profit share payments for NGENLA hit $8.8 million. Looking ahead, the guidance for NGENLA sales in 2026 is set between $32 million and $35 million.

Direct Sales Force Targeting Specialists in the U.S.

For its own pharmaceutical product, Rayaldee, OPKO Health, Inc. relies on a dedicated, specialized sales force within the U.S. targeting nephrologists. While the specific 2025 headcount isn't public, the company previously had plans to expand its field-based nephrology sales representatives to 70. This team supports the commercialization efforts for Rayaldee, which generated $7.5 million in revenue in the third quarter of 2025.

• NGENLA distribution is managed by Pfizer globally.
• Rayaldee commercialization is supported by a specialized U.S. sales team.
• Rayaldee is marketed in the U.S., Germany, Switzerland and Denmark.

BioReference Patient Service Centers and Mobile Phlebotomy Services

The diagnostics arm, primarily through BioReference Laboratories, utilizes a massive physical footprint for sample collection. BioReference Laboratories services approximately 11 million patients annually. Even after the sale of certain oncology assets, the core clinical testing operations in New York and New Jersey, which include some patient service centers (PSCs), represented approximately $300 million in revenue for 2024. The mobile component is supported by a logistics fleet of over 475 cars, driving over 17 million miles annually to support sample collection and delivery.

Specialty Pharmacies and Pharmaceutical Wholesalers for Rayaldee Distribution

Rayaldee, the treatment for secondary hyperparathyroidism, moves through traditional pharmaceutical supply channels. Shipments commence to distributors, making the product available nationwide at retail pharmacies. This channel is critical for reaching the adult patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency who are not on dialysis.

Provider Login Portals for Secure, 24/7 Access to Test Data and EHR Integration

For its diagnostic services, OPKO Health, Inc. provides digital access points for ordering and results retrieval. The company maintains a Provider Login portal, which is the mechanism for healthcare professionals to get secure, 24/7 access to test data. This digital channel is key for integrating results into the provider workflow, especially for tests like the 4Kscore® Test, which is reliable with over 96% sensitivity and accuracy in assessing aggressive prostate cancer probability.

Here's a quick look at the revenue and scale associated with these channels as of late 2025 data:

Channel/Product Metric	Latest Reported Value/Amount	Period/Context
NGENLA Gross Profit Share Revenue	$8.8 million	Q3 2025
NGENLA Global Approvals	Over 40 markets	Late 2025
Rayaldee Revenue	$7.5 million	Q3 2025
BioReference Annual Patient Volume	Approximately 11 million	Latest Data
BioReference NY/NJ Core Revenue	Approximately $300 million	2024
4Kscore Test Accuracy	Over 96%	Latest Data

Finance: review Q4 2025 revenue projections based on NGENLA profit share run rate by next Tuesday.

OPKO Health, Inc. (OPK) - Canvas Business Model: Customer Segments

Global pharmaceutical companies seeking co-development and licensing deals

• ModeX collaboration potential value exceeds $1 billion upon success of multiple products.
• ModeX eligible for tiered royalties on global net sales, up to low double digits at the highest tier.
• Ongoing Phase 1 clinical trial for Epstein-Barr virus vaccine with Merck.
• Collaboration with Entera Bio for oral tablet development.

Patients with pediatric growth hormone deficiency (NGENLA)

Metric	Q3 2025 Amount	Q2 2025 Amount	Q1 2025 Amount	2024 Amount
Gross Profit Share Revenue (USD)	$8.8 million	$6.1 million	$4.5 million	$28.3 million (Profit-share revenue)
Estimated Full Year 2025 Profit Share (USD)	$28 million to $35 million (Estimate)
2026 Guidance Range (USD)	$32 million to $35 million (Guidance)

Adult patients with Stage 3 or 4 Chronic Kidney Disease and SHPT (Rayaldee)

Metric	Q3 2025 Revenue (USD)	Q2 2025 Revenue (USD)	Q1 2025 Revenue (USD)
Rayaldee Sales	$7.5 million	$7.2 million	$6.3 million

Urologists and Primary Care Physicians utilizing the 4Kscore Test

• The 4Kscore Test franchise represented approximately $300 million in revenue for 2024.
• Test volume increased year-over-year by approximately 12% in Q2 2025.
• Over 90% of PSA screening tests are performed by primary care providers, potential users.
• FDA approved supplemental application in July 2025 enabling performance without digital rectal examination (DRE) information.

Healthcare providers and patients in the New York/New Jersey region for core clinical testing

Metric	Q3 2025 Revenue (USD)	Q2 2025 Revenue (USD)	Q1 2025 Revenue (USD)
Diagnostics Segment Revenue from Services	$95.2 million	$101.1 million	$102.8 million
Estimated Annualized Revenue (Remaining Business)	Approximately $300 million annually

The remaining BioReference business is expected to reach profitability this year. Finance: draft 13-week cash view by Friday.

OPKO Health, Inc. (OPK) - Canvas Business Model: Cost Structure

You're looking at the expense side of OPKO Health, Inc.'s operations as of late 2025, which is heavily influenced by its dual focus on pharmaceuticals in development and a streamlined diagnostics business. Here's a breakdown of the major cost drivers based on the third quarter of 2025 results.

The company's operating expenses reflect significant investment in its pipeline alongside cost management in its lab services arm. Research and development (R&D) expenses, totaling $30.1 million in Q3 2025, represent a key outlay for future growth potential. This figure is up 4.5% year over year, driven largely by activities within the ModeX development programs.

Selling, General, and Administrative (SG&A) expenses were reported at $53.8 million for the third quarter of 2025, showing a substantial decline of 45.2% compared to the prior-year quarter, which reflects the impact of strategic realignment and asset sales.

The overall cost structure is detailed in the table below, incorporating the reported revenue and profit figures to derive the cost of revenue components for both segments.

Cost Category	Q3 2025 Amount (Millions USD)	Notes
Research and Development (R&D) Expenses	$30.1	Primarily for pharmaceutical pipeline advancement, including ModeX programs.
Selling, General, and Administrative (SG&A) Expenses	$53.8	Declined 45.2% year over year due to cost containment.
Cost of Revenue (Calculated)	Approx. $101.8	Calculated as Total Revenue ($151.7M) less Gross Profit ($49.9M).
Nonrecurring Costs (Severance)	Approx. $4.2	Expected nonrecurring costs for severance during Q3 2025.

Cost of revenue is a major component, reflecting the operational expenses tied directly to generating the $95.2 million in diagnostic services revenue and $37.7 million in pharmaceutical product revenue for the quarter. The decrease in diagnostics cost of revenue is directly linked to the sale of certain BioReference assets, which saw cost and expenses drop significantly compared to the prior year.

Clinical trial costs are embedded within the R&D spend, specifically supporting pipeline candidates. You see activity across several fronts:

• The Merck and ModeX collaboration on the Epstein-Barr virus vaccine candidate, which entered Phase 1 study in early 2025.
• Advancement of ModeX tetraspecific antibody candidates, with some expected to enter human trials in late 2025 or early 2026.
• Development costs for the oral GLP-1/glucagon tablet candidate with Entera Bio, where OPKO Health is responsible for 60% of development costs.

Restructuring efforts have yielded significant expense reductions, particularly within the Diagnostics business following the Labcorp transaction. While the sale itself generated gains, the underlying cost structure was targeted for efficiency. Management has noted that cost-reduction initiatives were in place, with annualized savings of over $25 million expected from prior restructuring efforts. Furthermore, the company recorded approximately $4.2 million in expected nonrecurring severance costs in Q3 2025 alone.

Finance: draft 13-week cash view by Friday.

OPKO Health, Inc. (OPK) - Canvas Business Model: Revenue Streams

You're looking at how OPKO Health, Inc. (OPK) brings in cash as of late 2025. The revenue picture is clearly segmented across its Diagnostics and Pharmaceuticals divisions, with a notable contribution from non-core activities like IP monetization. This mix shows a company balancing service-based lab revenue with product sales and strategic financial events.

Here is a look at the key revenue components from the third quarter of 2025, which gives you a snapshot of the current operational flow:

Revenue Source	Q3 2025 Amount
Revenue from services (Diagnostics)	$95.2 million
Revenue from product sales (Pharmaceuticals)	$37.7 million
Revenue from the transfer of intellectual property and other	$18.8 million
Gross profit share payments from partners for NGENLA	$8.8 million

The Diagnostics segment, driven by BioReference Health, remains the largest top-line contributor, though it has been streamlined following asset sales. The Pharmaceutical revenue stream is more diverse than just product sales, so you need to watch the non-product elements closely. These are the specific revenue drivers you should be tracking:

• Revenue from services (Diagnostics), which was $95.2 million in Q3 2025.
• Revenue from product sales (Pharmaceuticals), totaling $37.7 million in Q3 2025.
• Revenue from the transfer of intellectual property and other, which was $18.8 million in Q3 2025.
• Gross profit share payments from partners for NGENLA, totaling $8.8 million in Q3 2025.

To be fair, the IP and other category is where you see the impact of deals like the one with Regeneron, plus royalties. Looking ahead, the full-year 2025 total revenue guidance is projected to be between $640 million and $660 million, which suggests the fourth quarter needs to perform solidly to hit that range after the Q3 results. Finance: draft 13-week cash view by Friday.