Fri, Aug. 26, 9:06 AM
- As expected, Transition Therapeutics (NASDAQ:TTHI) stockholders overwhelmingly back its merger with OPKO Health (NASDAQ:OPK). At a Special Shareholder Meeting yesterday, holders representing 93% of outstanding shares voted in favor of the deal. The transaction should close on September 1.
- Previously: OPKO buys Transition Therapeutics in all-stock deal (June 30)
Thu, Jun. 30, 7:20 AM
- OPKO Health (NYSEMKT:OPK) inks an agreement to acquire Transition Therapeutics (NASDAQ:TTHI) for ~6.4M shares of OPKO common stock. Based on the average price of OPKO shares over the five days preceding the signing of the contract, the transaction is valued at ~$60M or $1.55 per TTHI share. The deal should close in H2.
- Transition's three top product candidates are Phase 3-stage TT401 for type 2 diabetes and obesity, Phase 3-stage ELND005 for Alzheimer's disease and Down syndrome and Phase 2-stage TT701 for androgen deficiency.
- TTHI closed yesterday at $0.70, OPK at $9.30.
- Update: On August 26, TTHI stockholders representing 93% of outstanding shares voted in favor of the merger. The deal should close on September 1.
- Update: On August 31, OPKO announced the completion of the transaction.
Fri, Feb. 12, 9:46 AM
- Noted biotech investor Dr. Philip Frost's OPKO Health (OPK -1.7%) acquires a 6.3% interest in Xenetic Biosciences (OTCQB:XBIO +13.6%), a developer of next-generation biologics and cancer-focused therapeutics.
- Xenetic's product candidates include ErepoXen for the treatment of anemia, OncoHist for certain blood cancers, PulmoXen for cystic fibrosis and a Factor VIII for hemophilia (with Baxalta).
Oct. 26, 2015, 11:28 AM
- SciVac Therapeutics (OTCQX:SVACF) acquires VBI Vaccines (NASDAQ:VBIV) in an all-stock transaction. Under the terms of the deal, each share of VBIV common stock will be converted into the right to receive 20.808356 shares of SciVac. In aggregate, VBIV shareholders will receive ~541.6M shares of SciVac, representing ~42% of the outstanding shares of the combined company after giving effect to the merger. The new firm will do business as VBI Vaccines.
- OPKO Health (OPK +0.3%) will be the largest shareholder of the combined firm with a ~14% stake.
- SciVac's main product is Sci-B-Vac, a third generation hepatitis B vaccine. VBI is developing prophylactic vaccines against CMV and RSV infection and therapeutic vaccines for brain cancer (glioblastoma) and HCV.
Jun. 4, 2015, 8:24 AM
- In a all-stock deal, OPKO Health (NYSE:OPK) acquires Bio-Reference Laboratories (NASDAQ:BRLI) for $52.58 per share or ~$1.47B. BRLI shareholders will receive 2.75 shares of OPK for each BRLI share.
- OPKO intends to leverage BRLI's commercial organization to enhance sales of its diagnostic tests, including 4Kscore, a blood test for prostate cancer.
- OPK is down 7% premarket on increased volume. BRLI is up 43% premarket on robust volume.
May 5, 2015, 11:26 AM
Feb. 5, 2015, 3:23 PM
- The resignation of prominent healthcare investor/entrepreneur Dr. Phillip Frost, M.D., from Teva Pharmaceutical Industries' (TEVA +1.8%) Board of Directors prompts aggressive buying from speculators who think a potential deal is afoot with Opko Health (OPK +4.6%). Teva is up on 50% higher volume while Opko's turnover is 3x average.
Dec. 16, 2013, 9:22 AM
- OPKO Health (OPK) acquires Laboratorio Arama de Uruguay. Terms were undisclosed, with closing expected in Jan.
- CEO Phillip Frost: "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."
- OPK shares +4.9% AH
Aug. 29, 2013, 4:09 PM
- Opko Health (OPK -1%) says it's completed its acquisition of Prolor Biotech (PBTH).
- Under the terms of the deal, each PBTH stockholder will receive 0.9951 shares of OPK.
- The acquisition provides OPK with four significant products in Phase III clinical development, as well as a pipeline of important therapeutic and unique diagnostic products in various stages of development.
Apr. 24, 2013, 9:08 AM
Prolor Biotech (PBTH), will be acquired by OPKO Health (OPK) in an all-stock deal worth $480M. PBTH shareholders will get 0.9551 shares of OPK for every share of PBTH they own, equating to $7 per share as of Tuesday's closing prices. PBTH +10.65% premarket. (Previously: strategic alternative evaluation boosts Prolor)| Apr. 24, 2013, 9:08 AM | 2 Comments
Dec. 27, 2012, 1:04 PM
Drugmaker and diagnostics firm Opko Health (OPK +0.5%) acquires Brazilian pharmaceutical company Silcon Comercio, Importacao E Exportacao de Produtos Farmaceuticos e Cosmeticos Ltda. The acquisition represents an important strategic move for OPK's diagnostic business. It permits the commercialization of its prostate cancer test in the region while the company obtains local approval to market its point of care microfluidics disposable test cassettes.| Dec. 27, 2012, 1:04 PM
Oct. 13, 2011, 8:58 AM
Opko Health (OPK) announces the acquisition of Claros Diagnostics for an undisclosed amount in a move its CEO says will provide "near-term commercialization possibilities" from the use of the firm's microfluidics technology.| Oct. 13, 2011, 8:58 AM