OPKO Health Announces Acquisition of Growing European Healthcare Company
OPKO Health, Inc. (NYSE:OPK) today 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
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.
Further details of the agreement will be included in OPKO's 8-K filing
with the Securities and Exchange Commission.
About OPKO Health, Inc.
We are a multi-national biopharmaceutical and diagnostics company that
seeks to establish industry-leading positions in large and rapidly
growing medical markets by leveraging our discovery, development and
commercialization expertise and our novel and proprietary technologies.
This press release contains "forward-looking statements," as that
term is defined under the Private Securities Litigation Reform Act of
1995 (PSLRA), which statements may be identified by words such as
"expects," "plans," "projects," "will," "may," "anticipates,"
"believes," "should," "intends," "estimates," and other words of similar
meaning, including statements regarding our near term product
commercialization synergies, our ability to sell Farmadiet's products
through our existing Latin American operations, expectations regarding
near-term new product entry opportunities, the expansion of our global
manufacturing, sales and distribution capabilities , our ability to
capitalize on important commercial synergies across our existing
operating base, Farmadiet's ability to develop new and important
products from its pipeline and our ability to launch any such products
in the near term, whether Farmadiet will be able to successfully market
any of OPKO's diagnostic and pharmaceutical products as they become
available for market and sale and our ability to retain and benefit from
Farmadiet's existing management team, as well as other non-historical
statements about our expectations, beliefs or intentions regarding our
business, technologies and products, financial condition, strategies or
prospects. Many factors could cause our actual activities or results to
differ materially from the activities and results anticipated in
forward-looking statements. These factors include those described in our
filings with the Securities and Exchange Commission, as well as risks
inherent in funding, developing and obtaining regulatory approvals of
new, commercially-viable and competitive products and treatments. In
addition, forward-looking statements may also be adversely affected by
general market factors, integration issues with Farmadiet, competitive
product development, product availability, federal and state regulations
and legislation, the regulatory process for new products and
indications, manufacturing issues that may arise, patent positions and
litigation, among other factors. The forward-looking statements
contained in this press release speak only as of the date the statements
were made, and we do not undertake any obligation to update
forward-looking statements. We intend that all forward-looking
statements be subject to the safe-harbor provisions of the PSLRA.
OPKO Health, Inc.
Steven D. Rubin or Juan F. Rodriguez,
Source: OPKO Health, Inc.
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