Quarterly report pursuant to Section 13 or 15(d)

Segments

v3.3.0.814
Segments
9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
SEGMENTS
SEGMENTS
We currently manage our operations in two reportable segments, pharmaceuticals and diagnostics. The pharmaceuticals segment consists of two operating segments, our (i) pharmaceutical research and development segment which is focused on the research and development of pharmaceutical products, and vaccines, and (ii) the pharmaceutical operations we acquired in Chile, Mexico, Ireland, Israel, Spain, Brazil, and Uruguay. The diagnostics segment consists of two operating segments, our (i) clinical laboratory operations we acquired through the acquisitions of Bio-Reference and OPKO Lab and (ii) point-of-care and molecular diagnostics operations. There are no significant inter-segment sales. We evaluate the performance of each segment based on operating profit or loss. There is no inter-segment allocation of interest expense and income taxes.
Information regarding our operations and assets for our operating segments and the unallocated corporate operations as well as geographic information are as follows:
 
For the three months ended September 30,
 
For the nine months ended September 30,
(In thousands)
2015
 
2014
 
2015
 
2014
Revenue from services:
 
 
 
 
 
 
 
Pharmaceuticals
$
160

 
$

 
$
192

 
$

Diagnostics
103,739

 
2,422

 
107,597

 
6,426

Corporate
20

 
60

 
140

 
180

 
$
103,919

 
$
2,482

 
$
107,929

 
$
6,606

Product revenues:
 
 
 
 
 
 
 
Pharmaceuticals
$
20,765

 
$
17,291

 
$
59,066

 
$
58,510

Diagnostics

 

 

 

Corporate

 

 

 

 
$
20,765

 
$
17,291

 
$
59,066

 
$
58,510

Revenue from transfer of intellectual property:
 
 
 
 
 
 
 
Pharmaceuticals
$
18,350

 
$

 
$
48,552

 
$
285

Diagnostics

 

 

 
191

Corporate

 

 

 

 
$
18,350

 
$

 
$
48,552

 
$
476

Operating (loss) income:
 
 
 
 
 
 
 
Pharmaceuticals
$
5,300

 
$
(34,480
)
 
$
(36,861
)
 
$
(71,421
)
Diagnostics
(1,961
)
 
(6,738
)
 
(17,961
)
 
(20,621
)
Corporate
(11,562
)
 
(6,384
)
 
(34,444
)
 
(19,557
)
Less: Operating loss attributable to noncontrolling interests

 
(599
)
 
(1,281
)
 
(1,762
)
 
$
(8,223
)
 
$
(48,201
)
 
$
(90,547
)
 
$
(113,361
)
Depreciation and amortization:
 
 
 
 
 
 
 
Pharmaceuticals
$
2,775

 
$
2,020

 
$
6,902

 
$
6,061

Diagnostics
9,602

 
1,717

 
13,103

 
5,136

Corporate
22

 
31

 
68

 
72

 
$
12,399

 
$
3,768

 
$
20,073

 
$
11,269

Net loss from investment in investees:
 
 
 
 
 
 
 
Pharmaceuticals
$
(3,502
)
 
$
(60
)
 
$
(6,067
)
 
$
(2,486
)
Diagnostics

 

 

 

Corporate

 

 

 

 
$
(3,502
)
 
$
(60
)
 
$
(6,067
)
 
$
(2,486
)
Revenues:
 
 
 
 
 
 
 
United States
$
104,358

 
$
2,482

 
$
109,359

 
$
7,082

Ireland
22,308

 

 
53,807

 

Chile
7,779

 
7,622

 
22,929

 
22,758

Spain
3,447

 
4,414

 
12,303

 
16,230

Israel
4,154

 
3,710

 
14,309

 
14,563

Mexico
988

 
1,528

 
2,840

 
4,905

Other

 
17

 


54

 
$
143,034

 
$
19,773

 
$
215,547

 
$
65,592


(In thousands)
September 30,
2015
 
December 31,
2014
Assets:
 
 
 
Pharmaceuticals
$
1,262,373

 
$
1,064,498

Diagnostics
1,287,854

 
108,072

Corporate
465,626

 
95,094

 
$
3,015,853

 
$
1,267,664

Goodwill:

 

Pharmaceuticals
$
237,518

 
$
173,327

Diagnostics
523,716

 
50,965

Corporate

 

 
$
761,234

 
$
224,292



During the three and nine months ended September 30, 2015, revenue recognized under the Pfizer Transaction represented 11% and 21% of our total revenue. Refer to Note 12. During the three months ended September 30, 2014, no customer represented more than 10% of out total revenue and during the nine months ended September 30, 2014, one customer represented 13% of our total revenue. As of September 30, 2015, one customer represented more than 10% of our accounts receivable balance. As of December 31, 2014, no customer represented more than 10% of our accounts receivable balance.