1. Scrip
  2. >>Business

Opko Embarks On Transition To Profitability With Discount Buy

 
• By Lisa LaMotta

The life sciences company picks up Transition Therapeutics in an all-stock deal that fleshes out its pipeline.

While Opko Health Inc. now has multiple revenue-generating products across its diverse portfolio, the company is still struggling to be profitable and lacks the strong pipeline to be a major player in diseases with under-served patient populations. With that in mind, Opko is picking up Transition Therapeutics Inc. at a deep discount in hopes of padding its pipeline.

The Miami-based company is acquiring Transition in an all-stock swap worth $60m, or $1.55 per share, that is expected to close in the second half. In exchange, Transition security holders...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Deal Watch: Lilly Licenses Camurus’s Delivery Technology For Long-Acting Incretins

 
• By Joseph Haas

Plus deals involving Roche/Vividion, Alto/Chase, Biogen/City Therapeutics, Sanofi/Nurix and Naya/Invo.

Finance Watch: Is Six The Magic Number? May Sees Half Dozen VC Mega-Rounds

 
• By Mandy Jackson

Private Company Edition: Six biopharma companies raised venture capital rounds totaling $100m or more in May, matching the number of mega-rounds in April and March. Among other recent financings, Syndeio launched with $90m and SpyGlass raised a $75m series D round.

Bayer Boosted By Third FDA Approval For Nubeqa

 
• By Kevin Grogan

US green light will further expand sales of the prostate cancer blockbuster.

Kymera STAT6 Data Set The Bar For ‘Dupixent-In-A-Pill’ Race

 
• By Jessica Merrill

Kymera will move KT-621 into Phase II trials later this year based on compelling data in healthy volunteers, validating the company’s protein-degradation platform.

More from Scrip

Merus Raises $300m After ASCO Success

 
• By Andrew McConaghie

The company is raising the money to fuel development of its head and neck cancer candidate, petosemtamab, on the back of promising early data. Some analysts are stopping short of declaring it the winner against a rival product from Bicara, however.

Bayer Boosted By Third FDA Approval For Nubeqa

 
• By Kevin Grogan

US green light will further expand sales of the prostate cancer blockbuster.

Degron Eyes Deals For Novel Molecular Glue Degrader Assets

 
• By Dexter Jie Yan

Pursuing first-in-class molecular glue degraders using undruggable targets could eventually help Degron Therapeutics land sizable asset-based deals, CEO Lily Zou tells Scrip.