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Johnson & Johnson Remicade Biosim Setback, And Other News: The Good, Bad And Ugly Of Biopharma

Mar. 09, 2020 1:56 PM ETJohnson & Johnson (JNJ)AUPH, OPK4 Comments


  • Opko is now offering a coronavirus test.
  • Aurinia declares full-year results.
  • JNJ setback with Remicade patent case.
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OPKO Health to Offer Coronavirus Test, Shares Jump

OPKO Health (OPK) reported that it will offer coronavirus tests through its BioReference Laboratories unit. The tests are expected to be available from next week onward. The company also reported that these tests will be offered throughout the United States through the network of patient service centers.

BioReference is currently collaborating with the World Health Organization, US Centers for Disease Control and Prevention, and other public health agencies for identifying and developing diagnostic tests for infectious diseases. Jon R. Cohen, M.D., Executive Chairman of BioReference said:

We want to specifically recognize how engaged and responsive HHS, the CDC and the FDA have been in helping us navigate quickly through the scientific and regulatory issues necessary to make testing available as soon as possible to the U.S. population."

He also added that the laboratory will work closely with the Health and Human Services Department.

The United States has seen a sharp rise in the number of coronavirus cases. President Trump recently authorized a $7.8 billion emergency spending bill to curb the spread of coronavirus. It is estimated that the number of infected people around the world has crossed 100,000-mark while more than 3,400 deaths have been reported.

OPKO Health had a tumultuous past one year where its stock fluctuated between $1.33 and $2.91. However, its latest news regarding the test has provided a positive fillip to the stock price. The company stock has gained over 50 percent this year so far. The company is mainly engaged in the development and commercialization of diagnostic tests. It is operational in a number of countries around the world including the United States, Chile, Mexico, and Israel. For the fourth quarter of 2019, the company had reported its quarterly operating loss at $112.4 million. Its BioReference platform is amongst the largest full-service clinical laboratories in the

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Comments (4)

OPKO (OPK) is the best play here. It’s a small company so the increased revenue is a big deal!
J and J 2018 sales of Remicade $5.32 Billion Minus 15.7% from the prior year.
Remicade 2019 sales $4.38 Billion minus 16.8%.
Zytiga has also lost U.S. patient. It is a $2.8 Billion product end of 2019.
AMRN currently trading at $US13.50. Any thoughts/recommendations?
Avisol Capital Partners profile picture
Buy and hold keeping the lawsuit risk in mind, however small.
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