December 16, 2013 8:30am EST
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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
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