Formerly known as Ophthalmic Technologies Inc. Opko Health has recently agreed to acquire Chilean pharmaceutical company named Pharma Genexx for around US$ 16 million in cash. One of the reasons why this Florida-based pharma giant is taking up Chilean pharmaceutical is to enter the emerging markets in the future. The Miami-based Opko Health is a specialty healthcare company that is currently involved in the discovery, development and commercialization of pharmaceutical products, vaccines and diagnostic technologies. However, with this acquisition Opko Health is looking to expand into new areas like oncology and neurological disorders.

Opko Health CEO and Chairman Philip Frost have said that Opko Health believes that this acquisition will be an excellent strategic fit for Opko to expand further into international market. Currently, Pharma Genexx is involved in the representation,