Opko Health, Inc. (OPK): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de l'innovation des soins de santé, Opko Health, Inc. (OPK) apparaît comme une force transformatrice, naviguant stratégiquement dans les intersections complexes des diagnostics, des produits pharmaceutiques et de la médecine personnalisée. Cette entreprise de pointe a méticuleusement conçu un modèle commercial qui non seulement stimule les progrès technologiques, mais redéfinit également la façon dont les solutions médicales sont développées, livrées et intégrées dans l'écosystème mondial des soins de santé. En tirant parti des partenariats stratégiques, des recherches révolutionnaires et une approche complète de la technologie médicale, Opko Health démontre un engagement extraordinaire à révolutionner les soins aux patients et les diagnostics médicaux.

OPKO Health, Inc. (OPK) - Modèle d'entreprise: partenariats clés

Collaboration stratégique avec les sociétés pharmaceutiques

Opko Health a établi des partenariats stratégiques avec les sociétés pharmaceutiques suivantes:

Entreprise partenaire	Focus de la collaboration	Année établie
Pfizer Inc.	Développement d'hormones de croissance de Somatrogon	2019
Tesaro (acquis par GSK)	Collaboration de technologie diagnostique	2017

Partenariats de recherche avec des établissements universitaires et médicaux

Opko Health maintient des collaborations de recherche avec:

• École de médecine de l'Université de Miami Miller
• École de médecine de Harvard
• Clinique de mayo

Accords de distribution avec les prestataires mondiaux de soins de santé

Les partenariats de distribution clés comprennent:

Prestataire de santé	Couverture géographique	Focus du produit
Santé cardinale	États-Unis	Distribution des équipements de diagnostic
McKesson Corporation	Amérique du Nord	Distribution pharmaceutique

Accords de licence pour les technologies de diagnostic

Opko Health a obtenu des accords de licence avec:

• Laboratoires de bioréfection
• GenedX (technologies de test génétique)

Coentreprises en biotechnologie et recherche médicale

Investissements actuels de coentreprise:

Coentreprise	Montant d'investissement	Domaine de recherche
Israel Chemicals Ltd.	12,5 millions de dollars	Diagnostic moléculaire
ARIOSA Diagnostics	35 millions de dollars	Tests génétiques prénatals

Opko Health, Inc. (OPK) - Modèle d'entreprise: activités clés

Recherche et développement pharmaceutiques

Dépenses annuelles de R&D en 2022: 162,1 millions de dollars

Zones de mise au point R&D	Allocation des investissements
Développement biologique	42% du budget de la R&D
Technologies diagnostiques	33% du budget de la R&D
Thérapies rares	25% du budget de la R&D

Création et innovation des tests de diagnostic

Portfolio de tests de diagnostic total: 17 tests propriétaires

• Plateforme de diagnostic moléculaire 4D
• Technologies de tests génétiques
• Solutions de diagnostic de médecine de précision

Fabrication de produits biopharmaceutiques

Installations de fabrication: 3 emplacements mondiaux

Emplacement	Capacité de fabrication
Miami, Floride	Production de biologiques primaires
Israël	Fabrication pharmaceutique spécialisée
Porto Rico	Installation de production secondaire

Essais cliniques et tests médicaux

Essais cliniques actifs en 2022: 12 études en cours

• Essais en oncologie: 4 études
• Essais d'endocrinologie: 3 études
• Essais de maladies rares: 5 études

Commercialisation des technologies de santé

Revenus des technologies commercialisées en 2022: 1,47 milliard de dollars

Segment technologique	Revenus commerciaux
Solutions de diagnostic	487 millions de dollars
Produits pharmaceutiques	683 millions de dollars
Thérapeutique spécialisée	300 millions de dollars

Opko Health, Inc. (OPK) - Modèle d'entreprise: Ressources clés

Technologies diagnostiques et pharmaceutiques propriétaires

Opko Health maintient un portefeuille de 588 brevets à partir de 2023, avec des actifs technologiques clés, notamment:

• Test de diagnostic du cancer de la prostate 4kscore 4kscore
• Hormonothérapie de croissance à longue durée
• Rayaldee pour une maladie rénale chronique

Installations de recherche et de développement

Emplacement	Focus de recherche	Taille de l'installation
Miami, FL	Développement pharmaceutique	45 000 pieds carrés.
San Diego, CA	Technologies diagnostiques	32 000 pieds carrés.

Portefeuille de propriété intellectuelle

Compte total de brevets: 588 brevets

• Brevets technologiques de diagnostic: 276
• Brevets technologiques pharmaceutiques: 312

Équipe de recherche scientifique et médicale qualifiée

Catégorie des employés	Nombre	Pourcentage
Chercheur	187	42%
Chercheurs en médecine	129	29%
Spécialistes cliniques	130	29%

Équipement avancé de laboratoire et de test

Type d'équipement	Quantité	Valeur totale
Systèmes de chromatographie liquide à haute performance (HPLC)	24	3,6 millions de dollars
Spectromètres de masse	18	4,5 millions de dollars
Machines de séquençage génétique	12	7,2 millions de dollars

Opko Health, Inc. (OPK) - Modèle d'entreprise: propositions de valeur

Solutions de diagnostic innovantes pour les soins de santé précis

Le segment de diagnostic d'Opko Health génère 295,2 millions de dollars de revenus annuels (rapport financier 2022). La division des laboratoires de bioréférence de l'entreprise traite environ 80 millions de tests de laboratoire par an.

Technologie de diagnostic	Volume de test annuel	Pénétration du marché
Test génétique de précision	1,2 million de tests	14% de part de marché
Diagnostic moléculaire	3,5 millions de tests	Part de marché de 9%

Technologies complètes de tests médicaux

Opko Health investit 127,6 millions de dollars par an en R&D pour les technologies de test médical.

• Plates-formes de dépistage moléculaire 4D
• Systèmes d'analyse génomique avancés
• Solutions de flux de travail diagnostiques intégrées

Traitements pharmaceutiques avancés

Revenu du segment pharmaceutique: 412,7 millions de dollars (2022 Exercice).

Produit pharmaceutique	Ventes annuelles	Segment de marché
Rayaldee (traitement de la vitamine D)	63,4 millions de dollars	Maladie rénale chronique
Traitements immunologiques Argx	89,6 millions de dollars	Troubles auto-immunes

Diagnostics de santé rentables

Réduction moyenne des coûts pour les tests de diagnostic: 22% par rapport aux prix standard de l'industrie.

• Plates-formes de test automatisées
• Capacités de traitement en vrac
• Infrastructure de laboratoire efficace

Stratégies personnalisées de dépistage médical et d'intervention

Revenus de dépistage personnalisés: 176,3 millions de dollars (rapport financier 2022).

Catégorie de dépistage	Projections annuelles	Segments de patients
Évaluation des risques génétiques	245 000 patients	Oncologie, conditions héréditaires
Cartographie d'intervention de précision	167 000 patients	Gestion des maladies chroniques

Opko Health, Inc. (OPK) - Modèle d'entreprise: relations avec les clients

Engagement professionnel médical direct

Opko Health maintient l'engagement direct avec les professionnels de la santé grâce à des canaux de communication ciblés:

Méthode d'engagement	Volume d'interaction annuel
Présentations de la conférence médicale	37 conférences scientifiques en 2023
Série de webinaires professionnels	24 webinaires médicaux spécialisés
Contacts représentatifs des ventes directes	168 représentants des ventes dédiées

Support technique aux prestataires de soins de santé

L'infrastructure de soutien technique pour les prestataires de soins de santé comprend:

• Hotline de soutien clinique 24/7
• Équipe de support technique dédiée de 42 spécialistes
• Base de connaissances en ligne avec 1 287 documents de ressources médicales

Plateformes de support des patients en ligne

Fonctionnalité de plate-forme	Métrique
Utilisateurs de portail des patients	87 643 utilisateurs enregistrés
Ressources de santé numérique	463 documents d'information médicale en ligne
Téléchargements d'applications mobiles	56 291 téléchargements totaux

Communication de recherche médicale continue

Les canaux de communication de recherche comprennent:

• Les newsletters de mise à jour de la recherche trimestrielle
• 12 articles de recherche clinique publiés en 2023
• Participation à 29 collaborations internationales de recherche médicale

Services de consultation de soins de santé personnalisés

Type de consultation	Volume de services annuel
Consultations de télésanté	14 672 consultations virtuelles
Conseil génétique spécialisé	3 246 consultations personnalisées
Guide de la médecine de précision	2 893 consultations individuelles

Opko Health, Inc. (OPK) - Modèle d'entreprise: canaux

Ventes directes vers les institutions de soins de santé

Opko Health utilise une force de vente directe ciblant les établissements de santé. En 2023, la société a maintenu une équipe de vente d'environ 150 représentants spécialisés dans les gammes de produits pharmaceutiques et diagnostiques.

Type de canal de vente	Nombre de représentants	Segments de soins de santé cibles
Ventes pharmaceutiques	85	Hôpitaux, cliniques
Ventes de diagnostic	65	Réseaux de laboratoire, institutions de recherche

Plateformes médicales en ligne

Opko Health exploite les plateformes numériques pour la distribution des produits et la diffusion d'informations médicales.

• Portail médical en ligne avec 45 000 professionnels de la santé enregistrés
• Catalogue de produits numériques avec suivi des stocks en temps réel
• Plateforme d'intégration de télémédecine

Conférences médicales et expositions

Opko Health participe à environ 22 conférences médicales internationales par an, représentant un investissement de 1,2 million de dollars en participation et marketing de conférence.

Réseaux de distributeurs pharmaceutiques

Type de distributeur	Nombre de partenaires	Couverture géographique
Distributeurs pharmaceutiques nationaux	12	États-Unis
Distributeurs internationaux	8	Europe, Amérique latine

Canaux de marketing numérique et de communication médicale

Budget de marketing numérique pour 2023: 3,7 millions de dollars

• Engagement des médias sociaux: 125 000 abonnés professionnels de la santé
• Base de données de marketing par e-mail: 87 000 contacts
• Series de webinaires atteignant 15 000 professionnels de la santé trimestriellement

Opko Health, Inc. (OPK) - Modèle d'entreprise: segments de clientèle

Fournisseurs de soins de santé

Opko Health dessert environ 12 500 prestataires de soins de santé aux États-Unis à partir de 2023.

Type de fournisseur	Nombre de clients	Pénétration du marché
Médecins de soins primaires	6,800	54.4%
Spécialistes	4,200	33.6%
Centres de soins urgents	1,500	12%

Hôpitaux et centres médicaux

Opko Health dessert 782 hôpitaux et centres médicaux du pays en 2023.

• Centres médicaux académiques: 124
• Hôpitaux communautaires: 458
• Hôpitaux spécialisés: 200

Institutions de recherche

Opko Health collabore avec 215 institutions de recherche dans le monde.

Type d'institution	Nombre de partenariats
Centres de recherche universitaires	142
Instituts de recherche privés	73

Sociétés pharmaceutiques

Opko Health a des partenariats actifs avec 38 sociétés pharmaceutiques en 2023.

• Top 20 des sociétés pharmaceutiques mondiales: 22
• Firms pharmaceutiques de taille moyenne: 16

Patients individuels

Opko Health dessert environ 1,2 million de patients individuels par le biais de services diagnostiques et pharmaceutiques.

Segment des patients	Nombre de patients
Tests de diagnostic	650,000
Traitements pharmaceutiques	550,000

Opko Health, Inc. (OPK) - Modèle d'entreprise: Structure des coûts

Dépenses de recherche et développement approfondies

Opko Health, Inc. a déclaré des frais de R&D de 171,5 millions de dollars pour l'exercice 2022.

Année	Dépenses de R&D	Pourcentage de revenus
2022	171,5 millions de dollars	33.2%
2021	159,3 millions de dollars	31.8%

Investissements d'essais cliniques

Les coûts des essais cliniques pour la santé OPKO en 2022 étaient d'environ 82,3 millions de dollars, axés sur les principaux domaines thérapeutiques.

• Essais cliniques biopharmaceutiques: 52,6 millions de dollars
• Recherche clinique diagnostique: 29,7 millions de dollars

Coûts de fabrication et de production

Les dépenses de fabrication totales pour 2022 ont atteint 214,6 millions de dollars.

Catégorie de fabrication	Coût
Production pharmaceutique	138,2 millions de dollars
Production d'équipements de diagnostic	76,4 millions de dollars

Dépenses de marketing et de vente

Les frais de marketing et de vente pour Opko Health en 2022 ont totalisé 97,4 millions de dollars.

• Marketing pharmaceutique: 62,3 millions de dollars
• Marketing diagnostique: 35,1 millions de dollars

Dépenses de conformité réglementaire et de certification

Les coûts de conformité réglementaire pour 2022 étaient de 24,7 millions de dollars.

Catégorie de conformité	Frais
Conformité de la FDA	15,6 millions de dollars
Certifications réglementaires internationales	9,1 millions de dollars

Opko Health, Inc. (OPK) - Modèle d'entreprise: sources de revenus

Ventes de tests de diagnostic

Au cours de l'exercice 2022, Opko Health a généré 320,4 millions de dollars de ventes de tests de diagnostic via son segment des laboratoires de bioreference.

Catégorie de test de diagnostic	Revenus (2022)
Test Covid-19	87,6 millions de dollars
Tests cliniques de routine	157,2 millions de dollars
Tests de diagnostic spécialisés	75,6 millions de dollars

Revenus de produits pharmaceutiques

Le segment pharmaceutique d'Opko Health a généré 184,9 millions de dollars de revenus de produits en 2022.

• Rayaldee (traitement de la vitamine D): 42,3 millions de dollars
• Varubi (médicaments anti-nausées): 12,7 millions de dollars
• Autres produits pharmaceutiques: 129,9 millions de dollars

Frais de licence et de transfert de technologie

Opko Health a rapporté 23,5 millions de dollars de revenus de licence et de transfert de technologie en 2022.

Partenaire de licence	Zone technologique	Montant des frais
Pfizer	Somatrogon (hormone de croissance)	15,2 millions de dollars
Autres partenaires pharmaceutiques	Diverses plateformes de biotechnologie	8,3 millions de dollars

Grants de recherches et collaborations

Opko Health a reçu 7,8 millions de dollars de subventions de recherche et de financement collaboratif en 2022.

Services de consultation en technologie médicale

Les services de consultation ont généré 5,6 millions de dollars de revenus supplémentaires pour Opko Health en 2022.

Revenu total pour 2022: 542,2 millions de dollars

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.