Opko’s Hormone Treatment Acquired By Pfizer

December 16, 2014 | The American pharmaceutical giant Pfizer acquired the development and commercialization rights for one of Opko‘s products from the treatment of hormone deficiency. The product was originally developed by the Israeli pharmaceutical company Prolor, which was acquired by Opko in 2013 for $560 million. Opko itself is headed by outgoing Teva Pharmaceutical Industries chairman Dr. Phillip Frost. According to the terms of the agreement Opko will receive an upfront payment of $295 million and an additional $275 million in milestone payments. In return, Pfizer will receive an exclusive license to commercialize the hormone treatment, hGH-CTP, worldwide. Opko was founded by Phillips Frost and operates in the US, Chile, Israel, Mexico, Uruguay and Spain.