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Dec 31, 2020
OPKO Health Q4 2020 Earnings Report
OPKO Health's financial performance improved significantly due to increased diagnostics revenue, particularly from COVID-19 testing, and reduced operating expenses.
Key Takeaways
OPKO Health reported a net income of $32.3 million for the fourth quarter of 2020, a significant turnaround from the net loss of $112.4 million in the same period of 2019. Consolidated revenues increased to $494.6 million, driven by a surge in diagnostics revenue from COVID-19 testing.
BioReference Laboratories' volume increased by 170% compared to 2019, with COVID-19 PCR testing volume up 24% over the third quarter of 2020.
BioReference Laboratories processed approximately 4.3 million COVID-19 PCR tests.
Pfizer's regulatory submission for somatrogon was accepted in the U.S. and filed in Japan for treating pediatric patients with growth hormone deficiency.
RAYALDEE received marketing authorizations in 11 European countries.
Forward Guidance
OPKO Health did not provide specific forward guidance in this earnings report. The report focused on the achievements and financial results of the fourth quarter of 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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