Why did OPK's Q4 earnings surprise analysts?

Opko Health's Q4 2024 earnings exceeded analysts' expectations due to several key factors:

1. Strong Pharmaceutical Growth: The pharmaceutical segment reported revenue of $80.5 million for Q4 2024, up from $57.7 million in the same period of the previous year. This significant increase contributed to the overall revenue and profitability of the company.
2. Strategic Collaborations and Partnerships: Opko Health's strategic collaborations, such as with Merck for the Epstein-Barr virus vaccine and with Pfizer for NGENLA®, have been beneficial. These partnerships have led to additional funding and revenue streams. The company's advanced clinical trials and ongoing global commercialization efforts also contributed to its financial performance.
3. Revenue from RAYALDEE and Transfer of IP: The company reported revenue from RAYALDEE of $9.1 million for Q4 2024, similar to the previous quarter's $9.3 million. Additionally, revenue from the transfer of intellectual property was $43.1 million for Q4 2024, up from $14.7 million in the same period of the previous year. These revenue streams played a crucial role in the company's financial results.
4. Gross Profit Share from Pfizer: Opko Health received $9.5 million in gross profit share from Pfizer for Q4 2024, compared to $12.2 million in the same period of the previous year. Despite this decrease, it still contributed positively to the company's earnings.

In summary, Opko Health's Q4 earnings exceeded analysts' expectations due to strong pharmaceutical growth, strategic collaborations, revenue from RAYALDEE and transfer of IP, and gross profit share from Pfizer. These factors collectively contributed to the company's financial performance and turnaround.