Opko Health, Inc. to Acquire FineTech Pharmaceutical, Ltd.

MIAMI--(BUSINESS WIRE)--OPKO Health, Inc. (NYSE:OPK) announced it has entered into an agreement to acquire FineTech Pharmaceutical Ltd., a profitable Israeli company which develops and produces high value, high potency active pharmaceutical ingredients (APIs). The transaction is expected to close on December 29, 2011. FineTech, established by Arie L. Gutman, Ph.D., possesses proprietary technology and know-how in several important areas of organic synthesis. The company offers a full range of services from paper chemistry and laboratory scale development to pilot scale and commercial production; it is staffed with a team of highly qualified chemists with vast experience in synthetic and analytical chemistry, as well as expertise in multi-step syntheses, new polymorph development, and chiral and prostaglandin chemistry. FineTech’s FDA registered facility in Nesher, Israel is equipped with state-of-the-art laboratory, production and quality control equipment. FineTech’s business model has been to develop complex and problematic APIs for sale or license to pharmaceutical companies in the U.S., Canada, Europe and Israel.