OPKO Health acquires NK-1 compounds from Schering

Nov 11 2009

OPKO Health, Inc. (NYSE Amex:OPK) today announced that it has completed the acquisition of rolapitant and a related compound from Schering Corporation, a subsidiary of Merck & Co., Inc. ("Schering").

Rolapitant, a neurokinin-1 (NK-1) receptor antagonist, recently completed Phase II clinical testing for prevention of nausea and vomiting related to cancer chemotherapy and surgery, and other indications. Phase I clinical testing has also been initiated for a second compound in the same class. It is anticipated that these compounds may have advantages over presently marketed products.

"We are pleased to complete the acquisition of these valuable assets from Schering, and we look forward to rapidly completing development of rolapitant, the most advanced project among the assets acquired," said Phillip Frost, M.D., OPKO's Chairman and Chief Executive Officer.

NK-1 receptors are highly concentrated in the brain and are also found in other tissues of the body. Activation of NK-1 receptors leads to the release of neurotransmitters and other signaling molecules that play a central role in controlling nausea and vomiting and other basic functions.

Source: OPKO Health, Inc.