OPKO Health acquires Pharmacos Exakta

OPKO Health, Inc.Feb 18 2010

OPKO Health, Inc. (NYSE Amex: OPK) today announced that it has completed the acquisition of Pharmacos Exakta, S.A. de C.V. (“Pharmacos Exakta”), a privately-owned Mexican pharmaceutical company engaged in the manufacture, marketing and distribution of ophthalmic and other pharmaceutical products for government and private markets since 1957. OPKO acquired Pharmacos Exakta, including a manufacturing facility owned by an affiliate, for cash and shares of OPKO Common Stock.

Phillip Frost, OPKO’s Chairman and Chief Executive Officer, commented, “We believe this acquisition will provide OPKO with an excellent platform to expand manufacturing and distribution capabilities for a wide range of products while, at the same time, maintaining our original interest in ophthalmology. It also furthers our strategy of expanding commercial activities while we continue to develop our important diagnostic and therapeutic products, as well as our flu vaccine.”