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OPKO Health

OPKO Health, Inc.
Company typePublic
Nasdaq: OPK
Russell 2000 Component TASE: OPK
IndustryMedical Appliances & Equipment
Founded1991; 34 years ago (1991)
HeadquartersMiami, Florida
ProductsMedical Products
Number of employees
6,096[1]
Websiteopko.com

OPKO Health, Inc. 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]

History

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

  • Bioreference Laboratories, a clinical laboratory with a core genetic testing business
  • The 4K Test Score, a blood test for prostate cancer
  • Pharmaceutical development, with products such as Rayaldee
  • Varubi, a chemotherapy inducted nausea medication

As of 2024, the Chairman and CEO of OPKO is Phillip Frost.

In May 2022, OPKO Health announced the acquisition for $300 million of U.S based Biotechnology firm, ModeX. With it OPKO gained proprietary immunotherapy technology for infectious diseases and oncology.[3][citation needed]

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, 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.[4]
On March 8, 2019, the SEC filed an amended complaint, with OPKO paying $100,000 "Without admitting or denying the SEC's allegations."[5]

References

  1. ^ "OPKO's Competitors, Revenue, Number of Employees, Funding, Acquisitions & News - Owler Company Profile".
  2. ^ "Business Summary". Retrieved Dec 22, 2013.
  3. ^ "OPKO Health Acquires ModeX Therapeutics, Gains Proprietary Immunotherapy Technology with a Focus on Oncology and Infectious Diseases". Yahoo Finance. 9 May 2022. Retrieved 9 May 2022.
  4. ^ "Array Biopharma Annual Report (Form 10-K)". www.sec.gov. Securities and Exchange Commission. March 1, 2019.
  5. ^ "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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