OPKO – OPK – Health Announces Acquisition of Farmadiet Group Holding, S.L.
OPKO Health, Inc. (NYSE:OPK) announced its acquisition of Farmadiet Group Holding, S.L., a Barcelona-based company currently engaged in the development, manufacture, marketing, and sale of pharmaceutical, nutraceutical, and veterinary products.
With this acquisition, OPKO establishes a presence in the European Union through an established regional, integrated specialty pharmaceutical participant. This acquisition also allows OPKO near term product commercialization synergies through introduction of Farmadiet’s products to OPKO’s existing Latin American operations. Farmadiet’s robust product development pipeline also offers many near-term new product entry opportunities.
Phillip Frost, M.D., OPKO’s Chairman and Chief Executive Officer, commented, “This acquisition is an excellent strategic fit as we expand our global manufacturing, sales and distribution capabilities for a growing range of products. More specifically, through this acquisition, we further invigorate our strategic aim of broadening our footprint within the expanding worldwide pharmaceutical market while capitalizing on important commercial synergies across our existing operating base. We anticipate important launches near-term of products from Farmadiet’s rich pipeline. We also expect Farmadiet to market OPKO’s diagnostics and pharmaceutical products as they become available for market and sale. Finally, we are extremely pleased to benefit from Farmadiet’s experienced, highly successful, management team and their many years of product development and commercial expertise,” said Dr. Frost.
About OPKO Health, Inc. – OPK
OPK is a multi-national biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large and rapidly growing medical markets by leveraging their discovery, development and commercialization expertise and our novel and proprietary technologies.
OPKO Health, Inc. (OPK) is a multi-national pharmaceutical and diagnostics company. OPK is developing a range of solutions to diagnose, treat and prevent various conditions, including molecular diagnostics tests, point-of-care tests, and pharmaceuticals and vaccines. Its lead program is a molecular diagnostics platform for the development and commercialization of blood-based tests for conditions.
Its pharmaceutical segment consists of two operating segments: pharmaceutical research and development segment which is focused on the research and development of pharmaceutical products, diagnostic tests and vaccines, and the pharmaceutical operations, which it acquired in Chile, Mexico and Israel.
April 2012, it acquired ALS Distribuidora Limitada. On December 29, 2011, the Company acquired FineTech Pharmaceuticals, Ltd. On October 13, 2011, it acquired Claros Diagnostics, Inc. In January 2011, it acquired CURNA, Inc. In October 2011, OPKO sold its ophthalmic instrumentation business.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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