OPKO Health buys Israeli API maker
OPKO Health has bought Israel-based API (active pharmaceutical ingredient) maker FineTech Pharmaceutical.
FineTech produces ‘complex and problematic’ high potency APIs at its facility in Nesher, Northern Israel, which is supplies to pharmaceutical companies in the US, Canada, Europe and Israel.
Phillip Frost, OPKO’s CEO, said: "FineTech's significant know-how and experience with analytical chemistry and organic syntheses, together with its production capabilities, will play a valuable role in the development of OPKO's pipeline of proprietary peptoids and other molecules for diagnostic and therapeutic products, while providing revenues and profits."
