Benzinga | Jun 17, 2021 08:25AM EDT

OPKO Health Offloads Fill and Finish Manufacturing Facility in Ireland To Horizon Therapeutics

* OPKO Health Inc's (NASDAQ:OPK) subsidiary, EirGen Pharma Ltd, has agreed to sell one of its facilities in Waterford, Ireland, to Horizon Therapeutics plc (NASDAQ:HZNP) for $65 million.

* The facility houses EirGen's sterile-fill-finish business. EirGen's R&D employees who were located at the site will transition to a new facility.

* "This facility in Ireland is no longer a core component of our ongoing operations and business strategy, and its sale allows us to focus EirGen's business on oral solid dose products," said Phillip Frost, Chairman and CEO of OPKO.

* OPKO expects the transaction to close in approximately one month.

* Price Action: OPK shares are down 1.06% at $3.73 during the premarket session on the last check Thursday, while HZNP shares closed at $90.9 on Wednesday.