OPKO Health to Expand Latin American Presence with Acquisition of Brazilian Pharmaceutical Company
Acquisition of Silcon Comércio Permits Commercial Synergies Among
Provides Commercial Platform for Near-Term Brazilian Launch of
4Kscore™ Prostate Cancer Test
OPKO Health, Inc. (NYSE:OPK)
has entered into a definitive agreement to acquire Silcon Comércio,
Importacao E Exportacao de Produtos Farmaceuticos e Cosmeticos Ltda.
Domiciled in Sao Paulo, Brazil, Silcon expands OPKO's presence in Latin
America and complements business activities of units in Chile and Mexico.
Silcon broadens OPKO's reach in Latin America with this entry into the
largest market in the region. Beyond providing important cross marketing
opportunities for its growing portfolio of products, Silcon represents
an important strategic element for OPKO's diagnostic business; it
permits commercialization of the 4KScore™ prostate cancer test in Brazil
as a reference laboratory test while OPKO obtains local approval to
market its point of care microfluidics disposable test cassettes.
"With this acquisition, OPKO establishes a footprint in the most
important growth market in South America," said Phillip Frost, M.D.,
Chairman and CEO of OPKO. "The acquisition allows OPKO to satisfy
regulatory requirements for doing business in Brazil, which might
otherwise be a prolonged process. Moreover, this platform enhances
commercial synergies among our recent acquisitions and facilitates the
near-term commercialization in the Brazilian market of our 4Kscore™, a
novel panel of biomarkers and associated algorithm to more accurately
detect and grade possible prostate cancers."
About OPKO Health, Inc.
OPKO is a multinational biopharmaceutical and diagnostics company that
seeks to establish industry leading positions in large, rapidly growing
markets by leveraging its discovery, development and commercialization
expertise and 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 the benefits and synergies
resulting from the acquisition of Silcon, including whether OPKO's
portfolio of products in Latin America will grow and Silcon will provide
the anticipated cross marketing opportunities, whether Silcon
will provide a commercial platform that supports the near-term launch of
OPKO's 4Kscore™ in Brazil, the timing for the launch of the 4Kscore™,
whether Silcon will enable OPKO to satisfy regulatory
requirements for doing business in Brazil,, the ability to obtain local
approval of OPKO's point of care microfluidics disposable test
cassettes, whether OPKO will be successful in migrating its 4Kscore™
onto the microfluidics disposable test cassettes, the potential benefits
of the 4Kscore™, the ability to more accurately detect and grade
possible prostate cancers, whether OPKO or Silcon will be able to
successfully commercialize the 4Kscore™, 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, 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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