OPKO Completes Acquisition Of PROLOR Biotech
OPKO Health, Inc. (NYSE: OPK) and PROLOR Biotech, Inc. (NYSE: PBTH) ("PROLOR") jointly announced today the completion of the acquisition of PROLOR by OPKO. Pursuant to the acquisition, stockholders of PROLOR will receive 0.9951 shares of OPKO common stock for each share of PROLOR common stock.
"We are pleased to complete the acquisition of PROLOR and broaden our portfolio of market-transforming therapies in selected specialty markets," commented Dr. Phillip Frost, OPKO's Chairman and Chief Executive Officer. "With the inclusion of PROLOR's pipeline, OPKO now has four significant products in Phase III clinical development and a robust pipeline of important therapeutic and unique diagnostic products in various stages of development. PROLOR's drug product candidates for growth hormone deficiency, hemophilia, obesity and diabetes, along with its broadly applicable technology platforms and efficient research and development center, are highly valuable assets that complement OPKO's growth strategy."
"We are delighted to join forces with OPKO and combine the complementary strengths of the two companies, building on our focus of providing patients with next-generation therapies intended to improve their health and quality of life," commented Abraham Havron, Ph.D., Chief Executive Officer of PROLOR. "We believe that