Opko Health, Inc. (OPK) recently acquired Prolor Biotech, Inc. As per the acquisition, Prolor stockholders will receive 0.9951 Opko shares in exchange of each stock of Prolor held by them.
This acquisition will broaden Opko’s portfolio significantly by the addition of Prolor’s pipeline containing four late stage candidates in the areas of growth hormone deficiency, hemophilia, obesity and diabetes.
Over the last year, Opko has been on an acquisition spree.
In Apr 2013, Opko bought a 10% stake in a growing, fully-integrated Russian pharmaceutical company, OAO Pharmsynthez. In Mar 2013, Opko acquired Cytochroma Inc. which added two phase II candidates to Opko’s portfolio.
The acquisition added CTAP101, which is being developed for the treatment of secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease (:CKD) and vitamin D insufficiency, and Fermagate, which is being evaluated for the treatment of hyperphosphatemia in CKD patients on chronic hemodialysis, to Opko’s portfolio.
In another strategic move to expand its geographical foothold, Opko acquired Brazilian pharmaceutical company, Silcon Comércio, Importacao E Exportacao de Produtos Farmaceuticos e Cosmeticos Ltda. This acquisition strengthened Opko’s presence in Latin America and brought operational ease to its business activities in Chile and Mexico.
In Dec 2012, the company acquired Prost-Data, Inc., which ran its business as OURLab, a Nashville-based CLIA (Clinical Laboratory Improvement Amendments) laboratory, with 18 phlebotomy sites throughout the U.S. OURLab has an experienced national sales force calling primarily on urologists. Opko expects OURLab to provide the company with a commercial platform to support the U.S. commercial launch of its panel of kallikrein biomarkers and 4Kscore for prostate cancer detection.
In Aug 2012, the company acquired Farmadiet, a Spanish company engaged in the development, manufacture, marketing, and sale of pharmaceutical, nutraceutical, and veterinary products in Europe. Opko, with this acquisition, entered the European Union.
Opko carries a Zacks Rank #3 (Hold). Currently, companies which look attractive include Gilead Sciences Inc. (GILD) and Actelion Ltd. (ALIOF) with a Zacks Rank #1 (Strong Buy), and Jazz Pharmaceuticals (JAZZ) with a Zacks Rank #2 (Buy).Read the Full Research Report on OPK
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