Opko Health yesterday reported a massive jump in third quarter revenues as the company benefitted from its recent acquisitions of clinical lab Bio-Reference Laboratories and specialty pharmaceutical manufacturer EirGen earlier this year.

For the three-month period ended Sept. 30, Miami, Florida-based Opko reported consolidated revenues of $143 million compared with $19.8 million in the same period last year, in line with analysts' consensus estimate.

Opko's diagnostic services revenues surged to $103.7 million during the quarter, up from $2.4 million in the year-ago quarter. In August, Opko closed its $1.47 billion acquisition of Bio-Reference Labs, the third-largest full-service clinical laboratory in the US.

Opko Health yesterday reported a massive jump in third quarter revenues as the company benefitted from its recent acquisitions of clinical lab Bio-Reference Laboratories and specialty pharmaceutical manufacturer EirGen earlier this year.

For the three-month period ended Sept. 30, Miami, Florida-based Opko reported consolidated revenues of $143 million compared with $19.8 million in the same period last year, in line with analysts' consensus estimate.

Opko's diagnostic services revenues surged to $103.7 million during the quarter, up from $2.4 million in the year-ago quarter. In August, Opko closed its $1.47 billion acquisition of Bio-Reference Labs, the third-largest full-service clinical laboratory in the US.

"Our acquisition of Bio-Reference Laboratories has significantly enhanced our financial position and has given us a leadership position in the diagnostics business, while also providing critical strategic assets we can leverage in … genomics, as well as in reaching providers of all kinds," Steven Rubin, executive vice president of administration at Opko, said during a conference call following the release of the financial results.

"Our acquisition of Bio-Reference Laboratories has significantly enhanced our financial position and has given us a leadership position in the diagnostics business, while also providing critical strategic assets we can leverage in … genomics, as well as in reaching providers of all kinds," Steven Rubin, executive vice president of administration at Opko, said during a conference call following the release of the financial results.