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Neurocrine Biosciences, Inc.

NBIX · NASDAQHealthcare
The economic chain
Follow the chain left → right, from inputs to end demand. Tap any company to trace its links.
Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
Inputs &supplyAPIs, bioprocess, compone…Discovery &trialsR&D, partners, regulatorsManufacturingDrug substance, fill-fini…ProductsMedicines, therapies, dev…Payers &distributionWholesalers, PBMs, health…Providers &patientsHospitals, surgeons, pati…CDMOContract manufacturers (CDMOs)APIAPI & raw-material suppliersNRNeurocrine R&DNXERNxera Pharma (Sosei Heptares)XENEXenon PharmaceuticalsTAKTakedaVYGRVoyager TherapeuticsF/RFDA / regulatorsCDS&CDMO drug substance & fill-finishNBIXNeurocrine BiosciencesI(INGREZZA (valbenazine)C(CRENESSITY (crinecerfont)ABBVAbbVieSPSpecialty pharmaciesPAYPayers & PBMsMTPCMitsubishi Tanabe PharmaDWDrug wholesalersPREPrescribersPATPatients
Company details
Market cap
$16B
P/E ratio
34×
Div yield
None
EPS (2025)
$4.67
Profit margin
17%
Rev. growth
+21%
Revenue
$2.86B
Cash & investments
$2.5B
In plain English
Neurocrine is a San Diego neuroscience-focused biopharma built around one blockbuster: INGREZZA (valbenazine), the first FDA-approved pill for tardive dyskinesia, which alone is ~88% of its $2.86B in 2025 revenue. It outsources manufacturing to CDMOs, sells through a handful of drug wholesalers, and is racing to diversify — launching CRENESSITY for a rare adrenal disorder and licensing a psychiatry and epilepsy pipeline from partners like Takeda, Xenon and Nxera before INGREZZA's patents fade.
In simple terms
One drug, a rented factory, and three wholesalers
Neurocrine is a design house, not a factory. Its scientists invent the molecules; CDMOs make them; the big-three wholesalers (McKesson, Cencora, Cardinal) buy nearly all of it and push it to specialty pharmacies and doctors. INGREZZA is the pillar the whole chain rests on.
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Risk read
Elevated
SteadierMore speculative
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