Date: 2015-05-05
Type of information: Company acquisition
Acquired company: EirGen Pharma (Ireland)
Acquiring company: Opko Health (USA - FL)
Amount: $ 135 million
Terms: * On May 5, 2015, Opko Health announced the acquisition of EirGen Pharma, 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.
Details: 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). 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.
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