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Stock Market & Financial Investment News

News Breaks
July 24, 2013
16:00 EDTOPKOPKO citicoline products approved for commercialization in Spain
OPKO Health announced that its Barcelona, Spain subsidiary, Pharmadiet, S.L.U., received regulatory approval from Spainís health authority for commercialization of its oral and injectable formulations of citicoline. Final marketing authorization is expected within 60 to 90 days.
News For OPK From The Last 14 Days
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September 2, 2015
10:54 EDTOPKOPKO Health receives FDA approval for VARUBI
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10:34 EDTOPKLadenburg reiterates Buy on OPKO after Varubi approval
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08:50 EDTOPKOPKO Health rises after TESARO gets FDA approval for VARUBI
Shares of both OPKO Health (OPK) and TESARO (TSRO) are higher in pre-market trading after the latter announced earlier that the FDA has approved VARUBI in combination with other antiemetic agents in adults for the prevention of delayed nausea and vomiting associated with initial and repeat courses of emetogenic cancer chemotherapy, including, but not limited to, highly emetogenic chemotherapy. An intravenous formulation of rolapitant is also being developed. TESARO licensed exclusive rights for the development, manufacture, commercialization and distribution of VARUBI from OPKO Health. In pre-market trading, TESARO shares rose 4.3% to $53.90, while OPKO shares gained 4.5% to $11.30.
August 26, 2015
09:15 EDTOPKOPKO CEO Frost issues letter to shareholders on Bio-Reference deal
OPKO Health (OPK) chairman and CEO Phillip Frost released a letter to shareholders regarding the recently announced acquisition of Bio-Reference Laboratories (BRLI). "The strategy behind the recent Bio-Reference acquisition is twofold. First, it is a business whose revenues and profits have grown consistently since its launch by Dr. Marc Grodman in the 1980's, primarily through organic growth, to become the third largest full service reference laboratory in the United States," the letter reads. "It has built a reputation of innovation with recognized franchises in women's health, cancer and, more recently, genetics, helping physicians worldwide to diagnose rare genetic disorders and to identify special features of a patient's genetic material to select more effective chemotherapy. Second, it provides an infrastructure for marketing and sales that reaches approximately 10M patients a year." The letter adds that the 4Kscore test confirms elevated PSA tests have reduced costs by roughly $1B and, if the costs of downstream treatment interventions are also considered, there could be $2.5B additional annual savings to the U.S. health care system. "Among the many compelling reasons for the acquisition, we believe Bio-Reference will greatly accelerate the commercial success of the 4Kscore test," the letter continues. "Bio-Reference has the capacity to dramatically increase the number of 4Kscore tests done each day. They provide national marketing and distribution with a large client services group and a large dedicated sales force that already have strong relationships with primary care physicians. Bio-Reference has over 1,200 phlebotomists and 180 blood-draw centers around the country that can facilitate patient access. Finally, Bio-Reference has robust billing operations and a seasoned national reimbursement team that participates in almost every major commercial insurance plan. Bio-Reference has the expertise and extensive infrastructure to help make the 4Kscore test the new standard for identifying aggressive prostate cancer in men with a suspicious PSA." To close the letter, Frost wrote, "Given Bio-Reference's historical seasonal trends, we expect the second half of 2015 to show continuing growth in earnings and profits. We further expect that the contributions of Bio-Reference, FineTech and EirGen, will create positive EBITDA, or earnings before interest, income taxes, depreciation and amortization, for OPKO. Finally, we expect to continue to invest in research and development activities which, if successful, will result in ongoing improvement of our financial performance."
August 20, 2015
17:19 EDTOPKInnospec to replace Bio-Reference Labs in S&P 600 as of 8/21 close
OPKO Health (OPK) is acquiring Bio-Reference Laboratories (BRLI) in a deal that closed August 20.
10:43 EDTOPKOPKO Health completes acquisition of Bio-Reference Labs
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August 19, 2015
14:35 EDTOPKBio-Reference Labs to host special shareholder meeting
Special Shareholder Meeting to vote on the proposed merger with OPKO Health will be held in Mahwah, New Jersey on August 20 at 9 am.
12:20 EDTOPKOPKO Health enters agreements with provider networks for lab testing services
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