Neurocrine Biosciences, Inc. discovers, develops, and commercialize pharmaceuticals for neurological, psychiatric, endocrine, and immunological disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; Orilissa tablets for endometriosis; Oriahnn capsules to treat uterine fibroids; and CRENESSITY to treat congenital adrenal hyperplasia, as well as offers products under the name …
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Competitive advantage assessment
Key strengths
Margins Consistently Above PeersGross margin at 98.2% (top 8%) and operating margin at 21.6% (top 9%) indicate strong pricing power.
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.84), demonstrating pricing resilience across cycles.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Where NBIX ranks in Drug Manufacturers - Specialty & Generic
Neurocrine Biosciences, Inc. ranks #2 of 91
scored companies in Drug Manufacturers - Specialty & Generic by moat score — the top 2%.
The widest moat in the group is Zoetis Inc. (ZTS)
at 85/100.
Moat scores for companies ranked near NBIX in Drug Manufacturers - Specialty & Generic
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 75
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 90
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 92
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 78
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 77
· 15% of the moat score
Scale matters only when it converts into economics.
What is Neurocrine Biosciences, Inc.'s moat score?
Neurocrine Biosciences, Inc. (NBIX) scores 84 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as strong. It ranks #2 of 91 scored companies in Drug Manufacturers - Specialty & Generic, the top 2%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 90 companies in Drug Manufacturers - Specialty & Generic. Its strongest defense is Capital Efficiency (92/100) and its weakest is Cost Advantage (75/100).
How does Neurocrine Biosciences, Inc. compare with other Drug Manufacturers - Specialty & Generic companies?
Neurocrine Biosciences, Inc. ranks #2 of 91 scored companies in Drug Manufacturers - Specialty & Generic by moat score. The widest moat in Drug Manufacturers - Specialty & Generic is Zoetis Inc. (ZTS) at 85/100. The companies ranked closest are Zoetis Inc. (ZTS) at 85 just above it and SIGA Technologies Inc. (SIGA) at 79 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 90 companies in Drug Manufacturers - Specialty & Generic. The defenses are then weighted to produce the overall score out of 100.
Why is Neurocrine Biosciences, Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Neurocrine Biosciences, Inc.?
The Corporate Default template measures 6 defenses, and NBIX scores: Pricing Power (89), Cost Advantage (75), Customer Stickiness (90), Capital Efficiency (92), Resilience (78), Scale & Market Position (77). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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