OPKO Health Acquires Prolor Biotech for $480 Million

Prolor Biotech develops proprietary versions of proteins already approved for medical therapy, such as human growth hormone, and helps with commercialization.

The Israeli biomedical company Prolor Biotech has been sold to OPKO Health for $7 a share, giving the company a value of $480 million, both companies announced Wednesday. Although a final agreement was signed, the transaction is still subject to certain conditions, including the approval from the shareholders of both companies.