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This statistic highlights OPKO Health’s Revenue by Segment, split between Revenue from Products, Revenue from Services, and Revenue from the transfer of intellectual property and others, reported on a quarterly basis from Q1 2016 onwards.
OPKO Health’s Revenue by Segment
|Revenue by segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Transfer of intellectual property and other||$16.86||$9.55||$8.77||2.27%|
(All figures in millions, except percentages)
OPKO Health seeks to serve unmet patient needs through first-in-class products, comprehensive diagnostics laboratories, robust research and development pipeline, and unique pharmaceutical business solutions.
In the year 2020, OPKO Health earned total revenue of $1435.41 million, which further declined to $1373.38 million in 2021 by 4.32%. In Q3 2020, the company made revenue of $428.06 million which declined to $385.81 million in Q3 2021 by 9.87%. In Q2 2021, the company earned revenue of $442.40 million, it decreased to $385.81 million by 12.27% in Q3 2021.
OPKO Health provides a broad range of medicinal and health-related products. It includes Vitamin D and Phosphate Management products, small molecule and biological therapeutics, growth hormone, obesity products, vaccines strategic investments, ARNO Therapeutics, Zebra Biologic, etc.
In the year 2020, Product Segment generated revenue of $119.96 million, which further decreased to $106.49 million in the year 2021 by 11.23%. In Q3 2020, Product Segment gained revenue of $29.70, which merely contributed 6.70% to the total revenue of the company. It further increased to $36.88 million in Q3 2021. In Q2 2021, the segment reported revenue of $35.66 million, which further increased in Q3 2021 to $36.88 by 3.42%, also contributing 9.55% to the total revenue of the company.
Service Segment is one of the major earning sources for OPKO Health. The company allegedly offers routine and esoteric services including, women’s health, genetic testing, and molecular diagnostics.
In the year 2020, the service segment earned revenue of $1,262.22 million, which further slightly decreased to $1,244.31 million by 1.41% in 2021. In Q3 2020, the segment reported revenue of $382.50 million, which decreased to $340.16 million in Q3 2021. In Q2 2021, the segment earned revenue of $397.12 million, which decreased in the next quarter, Q3 2021 by 14.34% and contributed 88.16% to the total revenue of the company.
Transfer of intellectual property and other
OPKO Health earns revenue through Intellectual Property. The Company secures patents, copyright, and trademarks that are protected by law and support the company to earn recognition and financial benefit from their creations and innovations.
In the year 2020, the transfer of intellectual property and others earned revenue of $53.21 million, which contributed 3.71% to the total revenue of the company, which further increased to $22.58 million in 2021. In Q3 2020, this segment earned revenue of $16.86 million, which decreased to $8.77 million by 47.95%. In Q3 2021, the segment earned revenue of $9.55 million, which gradually decreased to $8.77 million by 8.16%, contributing 2.27% to the total revenue of the company.
About the Company
OPKO Health Inc. is a public and American Company. It was founded in 1991. It is headquartered at Biscayne Blvd Miami, United States. It operates in medical tests and medications; the primary focus of the company is on diagnostics and pharmaceuticals. OPKO seeks to serve the unmet patients, who need, provided with first class products, and facilities. The company has a diverse range of biomedical and pharmaceutical business solutions to meet the needs of patients.
The company publicly trades on NASDAQ (National Association of Securities Dealers Automated Quotations) and TASE (Tel Aviv Stock Exchange) under the symbol “OPKO.” OPKO Health Inc. is a diversified healthcare company that is present in more than 30 countries. It is the third-largest clinical laboratory with a core genetic testing business. It has a nearly 300-person sales and marketing team. OPKO Health Inc. faces stiff competition from Jazz Pharmaceutical, CSL, BioNTech, Biotest, Shionogi, and Takeda Oncology.
OPKO runs many subsidiaries including GeneDx, Bio-Reference Laboratories, Claros Diagnostics, OPKO Health Spain S.L.U, and many more.
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