Recs

0

Opko Buys into OAO Pharmsynthez

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Miami, Fl.-based Opko Health (NYSE: OPK  ) took a 10% stake in Russian peer pharmaceutical firm OAO Pharmsynthez, Opko announced Thursday.

Like the name sounds, Pharmsynthez is a drugmaker and, in fact, the only life sciences company currently trading on the Moscow Stock Exchange. (The "OAO" simply refers to the Russian words for "joint stock company," the Russian designation for a public corporation). It manufactures and sells branded pharmaceutical products, primarily in Russia and the Baltics.

Opko described its stake-purchase as part of a $60 million, two-stage financing project, whereby Russian state-owned corporation Russian Corporation of Nanotechnologies first invested $26.1 million in Pharmsynthez, followed by Opko's larger investment.

Going forward, Opko plans to partner with Pharmsynthez in the development and marketing of several of its own products for sale in Russia and other East European countries, specifically:

  • CTAP101 Capsules, a vitamin D prohormone to treat secondary hyperparathyroidism  in patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency
  • several diagnostic products utilizing OPKO's point of care platform
  • Opko's "4Kscore," panel of kallikrein biomarkers used in the detection of prostate cancer

The companies will also collaborate on R&D projects.

Investors appeared to view Thursday's announcement with some skepticism, however, bidding down Opko shares by precisely 1%, to close at $6.95.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2372590, ~/Articles/ArticleHandler.aspx, 7/28/2015 1:54:19 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

Today's Market

updated 4 hours ago Sponsored by:
DOW 17,440.59 -127.94 -0.73%
S&P 500 2,067.64 -12.01 -0.58%
NASD 5,039.78 -48.85 -0.96%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

7/27/2015 4:03 PM
OPK $16.60 Down -0.28 -1.66%
Opko Health, Inc. CAPS Rating: ***

Advertisement