OPKO Health, Inc. (NYSE:
) has completed the acquisition of Laboratorio Arama de Uruguay Limitada ("Arama"). Domiciled in Montevideo, Uruguay, Arama adds to our growing Latin American presence in the important Mercosur economic region and complements our business activities in Chile, Mexico and Brazil.
OPKO will broaden Arama’s product portfolio by registering new prescription and nutritional products for the Uruguayan market. These products are currently being commercialized by other OPKO units.
"We are delighted to welcome Arama to the growing OPKO family and to broaden the global commercial prospects for our product pipeline," said Phillip Frost, M.D., Chairman and CEO of OPKO. "This acquisition establishes a footprint in Uruguay and should facilitate our commercial expansion into neighboring Argentina. We also expect Arama to market our
™ product, OPKO’s new test to more accurately detect and grade prostate cancer and allow patients to avoid many unnecessary prostate biopsies."
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 will broaden Arama’s product portfolio by registering new prescription and nutritional products for the Uruguayan market, 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™ and its ability to more accurately detect and grade prostate cancer, 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.