© Copyright Acquisition International 2024 - All Rights Reserved.

Article Image - OPKO Health Acquires EirGen Pharma
Posted 28th May 2015

OPKO Health Acquires EirGen Pharma

OPKO Health Acquires EirGen Pharma

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

OPKO Health Acquires EirGen Pharma

OPKO Health Acquires EirGen Pharma

View Biography
Image

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
Read Full PostRead - Eye Icon
Safeguarding Small Enterprises: Navigating the Landscape of SME Cyber Threats
News
30/11/2023Safeguarding Small Enterprises: Navigating the Landscape of SME Cyber Threats

In the dynamic realm of business, Small and Medium-Sized Enterprises (SMEs) are not immune to the pervasive and evolving threats posed by cybercriminals. A recent study by Sharp UK reveals a concerning statistic – a huge one-third of UK SMEs lack any sec

Read Full PostRead - Eye Icon
Microsoft Acquisition of LinkedIn Controversy
M&A
13/12/2016Microsoft Acquisition of LinkedIn Controversy

Businesses like to diversify. This shows a strong commitment to customers, risk taking and innovation – a recipe for success.

Read Full PostRead - Eye Icon
Artificial intelligence versus regulation
Leadership
19/07/2018Artificial intelligence versus regulation

As we stand on the threshold of the Fourth Industrial Revolution, the landscape ahead includes developments in areas such as blockchain, internet of things, and nanotechnology

Read Full PostRead - Eye Icon
SolarReserve
Innovation
06/05/2015SolarReserve

SolarReserve is a leading global developer of utility scale solar power projects These include electricity generation by solar thermal energy and photovoltaic panels.

Read Full PostRead - Eye Icon
What is Estate Planning And Why Is It Critical For Property Owners
Finance
20/09/2020What is Estate Planning And Why Is It Critical For Property Owners

Estate planning is essentially critical for those who are property owners in their later years, and there’s some good reasons for that classification too. Here’s why estate planning is critical for property owners.

Read Full PostRead - Eye Icon
Preserving a Heritage of Excellence
Innovation
23/05/2018Preserving a Heritage of Excellence

Proserv is a global leader with a worldwide presence, offering a fresh alternative in the delivery of engineering and technical services to the energy, process and utility markets.

Read Full PostRead - Eye Icon
Ways to Safely Manage and Recycle E-Waste
Innovation
02/02/2023Ways to Safely Manage and Recycle E-Waste

As technology is rapidly evolving, more and more new devices and gadgets are being released almost every day. While the new invention is a step forward, we’re accumulating more e-waste than we can handle.

Read Full PostRead - Eye Icon
Banks Among the Worst at Blaming Customers When Things Go Wrong
Finance
26/05/2015Banks Among the Worst at Blaming Customers When Things Go Wrong

The traditional mantra for successful businesses ‘the customer is always right’ is under threat according to new research by alldayPA.

Read Full PostRead - Eye Icon
Private Sector Investment in Islamic Countries
Finance
07/06/2017Private Sector Investment in Islamic Countries

The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and a subsidiary of the Islamic Development Bank (IDB) Group. Established in 1999, ICD currently has an authorised capital of $4 billion



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 14 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.

Arrow