OPKO Health to acquire Brazilian pharma outfit Silcon

OPKO Health is expanding its presence in Latin America with the acquisition of Brazilian company Silcon.

OPKO Health, a multinational biopharmaceutical and diagnostics company based in Miami, has announced its intention to acquire Silcon Comercio, Importacao E Exportacao de Produtos Farmaceuticos e Cosmeticos Ltd.

The company has entered into a definitive agreement to acquire the Brazilian pharmaceutical company, which is based on Sao Paulo.

The move will complement OPKO's activities in Chile and Mexico and will expand its presence in Latin America.
"With this acquisition, OPKO establishes a footprint in the most important growth market in South America," said Dr Phillip Frost, chairman and chief executive officer of OPKO.

"The acquisition allows OPKO to satisfy regulatory requirements for doing business in Brazil, which might otherwise be a prolonged process."

Dr Frost added that the move will also enable commercialisation of the company's 4Kscore test - a novel panel of biomarkers and associated algorithm to detect and grade possible prostate cancers - in Brazil.

4Kscore was recently launched in Europe by OPKO's strategic partner, International Health Technology.