OPKO Health to Acquire Chilean Pharmaceutical Company

OPKO Health, Inc. OPK +0.64% has entered 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.ALS started operations in 2009 as the exclusive product distributor of Arama Laboratorios y Compania Limitada ("Arama"), 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 trademarks previously owned by Arama, as well as the Arama name.OPKO will acquire ALS for US $4 million in an all cash transaction from Inversiones SVJV Limitada, Inversiones BS Limitada, and Inversiones PYTT Limitada.Phillip Frost, OPKO's Chairman and Chief Executive Officer, commented, "This acquisition is an excellent strategic fit as OPKO expands its sales and distribution capabilities, particularly for its new pharmaceutical and diagnostic products."