OPKO Health

OPKO Health is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".[2]

OPKO Health
TypePublic
NASDAQ: OPK
Russell 2000 Component TASE: OPK
IndustryMedical Appliances & Equipment
Founded1991 
HeadquartersMiami, Florida
ProductsMedical Products
Number of employees
6,096[1]
Websitewww.opko.com

History

OPKO Health is a diversified healthcare company present in more than 30 countries. The company's primary businesses include:

  • Bioreference Laboratories, the third largest clinical laboratory with a core genetic testing business and a nearly 300 person sales and marketing team
  • The 4K Test Score, a blood test for prostate cancer accurately used to predict the likelihood of cancer spreading to other body parts within the next 20 years and guide in patient care decisions
  • Pharmaceutical development such as Rayaldee an FDA approved treatment for secondary hyperparathyroidism (SHIP)
  • The company also developed Varubi, a chemotherapy inducted nausea medication out-licensed to Tesaro and TerSera Therapeutics

The Chairman and CEO of OPKO is Dr. Phillip Frost, a billionaire biotech entrepreneur who previously held Chairman positions during the early stages and successful sales of Key Pharmaceuticals, Ivax Corporation, and Teva Pharmaceuticals.

Products lines

Diagnostics: Bioreference Laboratory, 4k Test Score, Claros 1 Point of Care Diagnostic Platform Therapeutics: Vitamin D and Phosphate Management Products, Growth Hormone, Hemophilia and Obesity Products, Other Small Molecule and Biological Therapeutics, Vaccines Strategic Investments: ARNO Therapuetics, BioCardia, ChromaDex Corporation, Cocrystal Pharma, MABVAX, Neovasc, Pharmsynthez, RXi Pharmaceuticals, VBI Vaccines, Sevion, Xenetic Biosciences, Zebra Biologic

Litigation

On September 7, 2018, the SEC filed a lawsuit against a number of individuals and entities including Opko Health and the CEO and Chairman, Dr. Phillip Frost. In December 2018, the company and Dr. Frost entered into settlements with the SEC, which, upon approval by the court in January 2019, resolved the claims. Without admitting or denying any of the allegations, the company agreed to an injunction from violations of Section 13(d) of the “Exchange Act”, a strict liability claim, and to pay a $100,000 penalty, which has been paid.[3]
On March 8, 2019, the SEC filed an amended complaint, with OPKO paying $100,000 dollars "Without admitting or denying the SEC's allegations."[4]

References
  1. https://www.owler.com/company/opko
  2. "Business Summary". Retrieved Dec 22, 2013.
  3. "Array Biopharma Annual Report (Form 10-K)". www.sec.gov. Securities and Exchange Commission. March 1, 2019.
  4. "SEC Settles with Multiple Defendants in Market Manipulation Case and Amends Complaint as to Thirteen Remaining Defendants". U.S. Securities and Exchange Commission. Mar 22, 2019. Retrieved March 22, 2019.
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