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OPKO Health Sells Assets to Labcorp for Up to $872 Million
OPKO Health is selling selected assets of its subsidiary BioReference Health to Labcorp for $722 million in cash plus up to $150 million in contingent payments. The deal includes the proprietary 4Kscore prostate cancer test and is expected to boost OPKO's focus on biopharmaceuticals.
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What happened
- 01OPKO Health will sell BioReference Health assets to Labcorp for $722 million cash and up to $150 million contingent.
- 02The deal includes the 4Kscore prostate cancer test, with Labcorp's network expanding its reach.
- 03OPKO's stock jumped 25.64% following the announcement of the strategic asset sale.
- 04The sale aims to streamline OPKO's structure and focus resources on biopharmaceutical development.
- 05The transaction is pending regulatory approvals and customary closing conditions.
- 06OPKO's Q2 2026 revenues reached $163.5 million, surpassing analyst expectations.
Following the announcement, OPKO's stock surged over 25% on the Tel Aviv Stock Exchange. The transaction is subject to regulatory approvals.
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