Boston, MA 10/22/2013 (wallstreetpr) – The future looks very promising for Opko Health Inc. (NYSE:OPK) and its investors. The company has obtained a milestone in securing final marketing authorization for its citicoline drug in Spain. The company announced on Monday, October 21, that its subsidiary in Barcelona, Pharmadiet, S.L.U., has received final marketing approval from the Spain’s health authority. This means that the company now has due authorization for commercialization of its injectable and oral formulations of citicoline.
Now the drug company is set to begin citicoline products commercialization in Spain in the course of Q1.14. With this commercialization, OPKO has indicated that its subsidiary in Barcelona, Pharmadiet, will realize significant increase in its sales and earnings, which is definitely good news to the investor community.
That the company is poised for better things with commercialization of citicoline can be seen in the sales of other citicoline products such as Somazina® that is already available in Spain. It is reported that this product exceeded $80 million in sales in 2012. Generally, citicoline enjoys strong sales in Latin America and all those other OPKO emerging markets.
Citicoline products are intended to help in a wide range of treatments. They are targeted for disorders such as memory, stroke related behavior, chronic diseases, head injuries and brain degeneration. This line of treatment basically tweaks in an enhancing manner of phosphatidylcholine in the brain.
As a multi-national biopharmaceutical and diagnostics company, OPKO has focus on leveraging recovery, development and commercialization of medical solutions. The company boasts novel and proprietary technologies in this endeavor.
The company currently carries a buy rating from both Jefferies Group and Barrington Research. Jefferies Group has price objective of $10 on the company’s shares. OPKO currently has $4.31 billion in market cap, having dropped by 7.93% to settle at $10.68 Monday, October 21. The drug manufacturer has its Q3.13 coming up on November 4.
