OPKO Health, Inc. (NASDAQ:OPK) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET
Company Participants
Yvonne Briggs - LHA Investor Relations
Phillip Frost - Chairman & Chief Executive Officer
Elias Zerhouni - President & Vice Chairman
Adam Logal - Senior Vice President & Chief Financial Officer
Conference Call Participants
Jeffrey Cohen - Ladenburg Thalmann & Co.
Yi Chen - H.C. Wainwright & Co.
Edward Tenthoff - Piper Sandler
Michael Petusky - Barrington Research
Yale Jen - Laidlaw & Company
Operator
Good day, and welcome to the OPKO Health Second Quarter 2023 Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Yvonne Briggs.
Yvonne Briggs
Thank you, operator, and good afternoon. This is Yvonne Briggs with LHA. Thank you all for joining today's call to discuss OPKO Health's financial results for the second quarter of 2023.
I'd like to remind you that any statements made during this call by management other than statements of historical fact will be considered forward-looking and as such, will be subject to risks and uncertainties that can materially affect the company's expected results. These forward-looking statements include, without limitation, the various risks described in the company's SEC filings, including the annual report on Form 10-K for the year ended December 31, 2022, and has subsequently filed SEC reports. This conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, August 3, 2023. Except as required by law, OPKO undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call.
Before we begin, let me review the format for today's call. Dr. Philip Frost, Chairman and Chief Executive Officer, will open the call. Dr. Elias Zerhouni, Vice Chairman and President of OPKO will then provide an overview of OPKO's pharmaceutical business as well as BioReference Health. After that, Adam Logal, OPKO's CFO, will review the company's second quarter financial results, and then we'll open the call to questions.
Now, I'd like to turn the call over to Dr. Frost.
Phillip Frost
Good afternoon and thank you for joining us today. In June, we were pleased to announce what we had been expecting for more than a year. FDA approval of NGENLA our long-acting, once-weekly human growth hormone analogue to treat pediatric patients age 3 and older. Our global commercial partner, Pfizer, has indicated it expects NGENLA to become available this month for prescribing in the U.S. This approval triggered a $90 million milestone payment from Pfizer and leads to a profit-sharing arrangement that Adam will discuss in more detail. That decision by the FDA as to when was approvals in over 40 countries with commercial launches to date in over 18, including the major markets of Japan, Germany, France, Spain and the United Kingdom.