On June 16, 2021, EirGen Pharma Limited ('EirGen'), an entity formed under the laws of Ireland and a subsidiary of OPKO Health, Inc., a Delaware corporation ('OPKO'), and Horizon Therapeutics Ireland DAC, an entity formed under the laws of Ireland ('Horizon'), entered into an Asset Purchase Agreement (the 'Agreement'), pursuant to which EirGen agreed to sell, and Horizon agreed to purchase, all of the assets comprising EirGen's sterile fill finish facility and surrounding land in Waterford, Ireland to Horizon for $65 million in cash, less certain accrued liabilities, together with the assumption by Horizon of certain liabilities (the 'Transaction'). In accordance with applicable law, certain EirGen employees will transfer to Horizon upon consummation of the Transaction. Consummation of the Transaction is subject to customary closing conditions, including the termination of a mandatory notice period to employees under applicable law. Each party's obligation to consummate the Transaction is also subject to the accuracy of the representations and warranties of the other party (subject to certain exceptions) and the performance in all material respects of the other party's respective covenants under the Agreement.
The foregoing description of the Agreement is only a summary and is qualified in its entirety by reference to the complete text of the Agreement, which will be filed as an exhibit to OPKO's Quarterly Report on Form 10-Q for the period ending June 30, 2021.
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Opko Health Inc. published this content on 23 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2021 18:50:06 UTC.
OPKO Health, Inc. is a multinational biopharmaceutical and diagnostics company. The Company's diagnostics segment consists of the clinical laboratory operations of BioReference Health, LLC (BioReference), its point-of-care operations. Its pharmaceutical segment consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel, Spain, Ecuador, France, the United States, and its pharmaceutical research and development operations. Through BioReference, it operates specialized laboratory divisions, such as GenPath (Urology), GenPath (Oncology), and GenPath (Women's Health). It has two commercial stage pharmaceutical products and several pharmaceutical compounds and technologies in various stages of research and development for a range of indications and conditions, including Rayaldee, Rayaldee, Oxyntomodulin, Biologics, NGENLA Somatrogon, and Factor VIIa-CTP. It develops and manufactures specialty active pharmaceutical ingredients (APIs) through FineTech Pharmaceutical, Ltd.