OPKO Health has entered into a definitive agreement to acquire Silcon Comércio, Importacao E Exportacao de Produtos Farmaceuticos e Cosmeticos Ltda. Domiciled in Sao Paulo, Brazil, Silcon expands OPKO’s presence in Latin America and complements business activities of units in Chile and Mexico.
Silcon broadens OPKO’s reach in Latin America with this entry into the largest market in the region. Beyond providing important cross marketing opportunities for its growing portfolio of products, Silcon represents an important strategic element for OPKO’s diagnostic business; it permits commercialization of the 4KScore™ prostate cancer test in Brazil as a reference laboratory test while OPKO obtains local approval to market its point of care microfluidics disposable test cassettes.
“With this acquisition, OPKO establishes a footprint in the most important growth market in South America,” said Phillip Frost, M.D., Chairman and CEO of OPKO. “The acquisition allows OPKO to satisfy regulatory requirements for doing business in Brazil, which might otherwise be a prolonged process. Moreover, this platform enhances commercial synergies among our recent acquisitions and facilitates the near-term commercialization in the Brazilian market of our 4Kscore™, a novel panel of biomarkers and associated algorithm to more accurately detect and grade possible prostate cancers.”