OPKO Health to Expand Latin American Presence with Acquisition of Uruguayan Pharmaceutical Company
- Acquisition of Laboratorio Arama de Uruguay Limitada Will Add to Growing South American Presence in Important Mercosur Market
- Provides Platform for Near-Term Launch of 4Kscore™ Prostate Cancer Test and Enhances Commercial Synergies Amongst OPKO Units
MIAMI--(BUSINESS WIRE)-- OPKO Health, Inc. (NYSE:OPK) has entered into an agreement to acquire Laboratorio Arama de Uruguay Limitada (“Arama”). Domiciled in Montevideo, Uruguay, Arama will add to our growing South American presence in the important Mercosur economic region while further complementing our business activities in Chile, Mexico and Brazil. The transaction is expected to close in January 2014.
This purchase is consistent with OPKO’s strategy of acquiring small, growing pharmaceutical companies which provide a platform to commercialize existing and future OPKO products while enhancing commercial synergies among our various units.
“We continue to broaden our commercial prospects through investments that complement our existing businesses and bolster the global reach of our robust product pipeline,” said Phillip Frost, M.D., Chairman and CEO of OPKO. "This acquisition will allow OPKO to establish a footprint in Uruguay and facilitate future sales and commercial expansion into neighboring Argentina. In the near term, Arama provides another platform for the commercialization 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 Arama, including whether Arama will provide a platform to commercialize existing and future OPKO products and enhance synergies among our various units, whether OPKO will be able to broaden its commercial prospects and global reach and expand into Argentina, whether OPKO's portfolio of products in Latin America will grow, whether Arama will provide a commercial platform that supports the near-term launch of OPKO's 4Kscore™ the timing for the launch of the 4Kscore™, the potential benefits of the 4Kscore™, the ability to more accurately detect and grade possible prostate cancers, whether OPKO or Arama 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, 305-575-4100
Source: OPKO Health, Inc.
Released December 16, 2013