Please enable JavaScript in your web browser settings, under the site permissions section to unlock full site functionality. Click here for help.

Article Image - OPKO Health Acquires EirGen Pharma

Posted 28th May 2015

OPKO Health Acquires EirGen Pharma

OPKO Health Acquires EirGen Pharma

Scroll to keep reading

OPKO Health Acquires EirGen Pharma

OPKO Health Acquires EirGen Pharma

View Biography

Paul Heffernan, Legal Adviser OPKO Health

OPKO Health, Inc. is pleased to announce the acquisition of EirGen Pharma, Ltd., a growing, profitable and cash flow positive specialty pharmaceutical company focused on the development and commercial supply of high potency, high barrier to entry, pharmaceutical products for sale in the U.S., Canada, Japan, Australia, most European countries, and more than 40 others around the world.

EirGen, based in Waterford, Ireland, was founded by two former executives of IVAX Pharmaceuticals, Tom Brennan and Patsy Carney. The company, situated in a state of the art high containment research and development, and manufacturing facility, is approved by the FDA, EMEA (European Health Authorities) and the PMDA (Japanese Health Authorities). High potency drugs such as those used for cancer chemotherapy are typically unsuitable for manufacture in normal multi-product facilities due to cross contamination risks.

To date, EirGen and its commercial partners have filed 10 product applications with the FDA and 5 each in Europe and Japan. EirGen has a strong research and development portfolio of over 20 niche, high barrier to entry drugs and, with access to additional capital that OPKO will provide, together with the benefits of Irish government programs to encourage research and development in Ireland, EirGen will rapidly expand its drug portfolio.

“EirGen Pharma is one of the leading developers and suppliers of high potency niche pharmaceutical products in the world,” said Phillip Frost, M.D. OPKO’s Chairman and CEO. “As FineTech, OPKO’s Israeli active pharmaceutical ingredient manufacturing subsidiary, is also focused on high potency drugs, an immediate business synergy is expected. EirGen also offers the significant benefit of potentially being able to manufacture OPKO’s current and future products in our own facilities, which we expect will result in even higher gross margins. The superb management, research and development, manufacturing and product distribution teams, along with state of the art facilities, together, will create an important, tax efficient base of operations for OPKO,” said Dr. Frost.

Categories: M&A, Strategy

You Might Also Like

(US) Small Businesses Employment Showed Modest Increase in March

31/03/2015(US) Small Businesses Employment Showed Modest Increase in March

Intuit Inc. today issued its monthly Small Business Employment and Revenue Indexes.

M&A Appetite on the up, but Completed Deals Slide, says KPMG

08/09/2015M&A Appetite on the up, but Completed Deals Slide, says KPMG

Despite the recent turbulence in the markets, analysts expect the world’s largest businesses to show an increasing appetite for M&A transactions.

One In Two Businesses Feel Behind The Tech Curve

16/01/2020One In Two Businesses Feel Behind The Tech Curve

Brexit to widen the tech gap between agile businesses and those that will struggle to survive.

Thinking Outside the Box

13/08/2019Thinking Outside the Box

Rosenbaum IP is an outcome oriented intellectual property firm, specializing in IP portfolio asset value building. We caught up with AI’s Leading Complex Intellectual Property Attorney of the Year, Illinois and Rosenbaum IP’s Chairman & CEO, David G. Rosen

Is Your Recruitment Business Ready to Scale

23/12/2024Is Your Recruitment Business Ready to Scale

Scaling your recruitment business can be one of the most challenging but exciting times in your company’s journey. After working to establish yourself and a sustainable way of working, it’s time to take your approach and apply it to a larger busine

DORA: Five Ways the Channel Can Prepare

03/04/2024DORA: Five Ways the Channel Can Prepare

The Digital Operational Resilience Act (DORA) will soon establish a universal framework for managing, reporting and outsourcing IT risk for the European Union (EU)’s financial sector. Looking to mitigate a recent rise in cyber attacks on the industry, the le

Barclays Launches Fintech Accelerator Program in New York

11/02/2015Barclays Launches Fintech Accelerator Program in New York

Barclays and Techstars plan to launch their flagship Accelerator program in New York, following its resounding success in London.

10 Simple Ways Small Companies Can Gain Control Over Business Costs

01/12/202510 Simple Ways Small Companies Can Gain Control Over Business Costs

10 Simple Ways Small Companies Can Gain Control Over Business Costs Running a small company is not easy. Costs keep going up, and you feel them in every part of the business. When you do not watch your money, it starts to walk away on its own. The good news is

Exploring Funding Solutions for Your Business

09/05/2024Exploring Funding Solutions for Your Business

Choosing the right funding solution can feel overwhelming. Whether starting a new business or expanding an existing one, knowing about no-money-down options and what other funding methods are available can dramatically simplify your approach. This gu

View More Articles

Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

MORE BRANDS