ARVN · CIK 1655759
What Arvinas, Inc. told the SEC could break it.
Arvinas's disclosures center on two dependencies it doesn't control: its partners and its outside manufacturers. Revenue comes almost entirely from a handful of collaboration partners such as Pfizer and Novartis — top customers were 92%, 62% and 97% of revenue across the three years shown — so a change or termination, as happened with Bayer in 2024, would sharply cut income. It also owns no manufacturing and relies entirely on third-party CMOs and CDMOs (some China-based, such as WuXi) for drug substance, finished product and compound synthesis, with the building blocks made in China and India — now facing 20% and 18% U.S. tariffs respectively, plus a threatened 100% branded-drug tariff and drug-pricing pressure.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- Collaboration-partner revenue concentration (~92%)high
Arvinas's revenue comes almost entirely from a few collaboration partners (Pfizer, Novartis) — top customers represented 92.0%, 62.0% and 97% of revenue in the three years presented — so changes to or termination of these agreements (as occurred with Bayer in 2024) would sharply cut revenue.
“presented 92.0 %, 62.0 % and 97 % of the Company's revenue, respectively.”
SEC filing →As of 2026
Regulatory & policy
- China/India tariffs on drug-substance building blocks (and pharma tariffs)medium
The building blocks of Arvinas's drug substances are manufactured in China and India, which now face 20% and 18% U.S. tariffs respectively (China potentially higher in Nov 2026), plus a threatened 100% tariff on branded pharmaceuticals and MFN drug-pricing pressure — raising manufacturing costs and supply risk.
“The current tariff on goods from China is 20%, which may be increased in November 2026, and the current tariff on goods from India is 18%.”
Supplier concentration
- Full reliance on third-party CMOs/CDMOs (some in China)medium
Arvinas owns no manufacturing facilities and relies entirely on third-party CMOs/CDMOs for drug substance, finished product and compound synthesis — including China-based providers such as WuXi — exposing it to supply disruption and quality/regulatory risk it does not control.
“We do not own or operate, and currently have no plans to establish, any manufacturing facilities. We rely on and expect to continue to rely on third-party contract manufacturing organizations, or CMOs, and contract development and manufacturing organizations, or CDMOs, for both drug substance and finished drug product as well as for the synthesis of compounds in our preclinical r”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
“a decrease of $162.4 million of revenue from the Novartis License Agreement and the Novartis Asset Agreement as we completed the technology transfer of our ongoing and planned clinical trials of luxdegalutamide (ARV-766) to Novartis in 2024”
Cited →
Its suppliers
“an increase in revenue from the Vepdegestrant (ARV-471) Collaboration Agreement with Pfizer of $150.5 million related primarily t”
Cited →WuXi
“particularly with respect to any product candidates and materials that we import from China, including pursuant to our manufacturing service arrangements with WuXi.”
Cited →
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