OPKO Health to acquire Chilean drugmaker; buys cancer tests

Florida, USA-based OPKO Health (NYSE: OPK) had a busy day yesterday, entering into a definitive agreement to acquire ALS Distribuidora Limitada (ALS), a privately-held Chilean pharmaceutical company engaged in the business of importation, commercialization and distribution of pharmaceutical products for private markets, as well as gaining exclusive rights to two biomarkers from a Finnish company.

OPKO will acquire ALS for $4 million in an all cash transaction from Inversiones SVJV Limitada, Inversiones BS Limitada and Inversiones PYTT Limitada, the company revealed. Phillip Frost, OPKO's chairman and chief executive, commented: "This acquisition is an excellent strategic fit as OPKO expands its sales and distribution capabilities, particularly for its new pharmaceutical and diagnostic products.”

ALS started operations in 2009 as the exclusive product distributor of Arama Laboratorios, a company with more than 20 years of experience in the pharmaceutical products market. In connection with the transaction, OPKO will also acquire all of the product registrations and trade marks previously owned by Arama, as well as the Arama name.