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Opko Health (NYSE: OPK) shares are higher on the session amid positive comments from its CEO Dr. Phillip Frost with Jim Cramer on Monday night.
Frost noted that Opko’s new vitamin D formulation for the treatment of renal disease will address a U.S. market of about four million patients. Total market opportunity is about $12 billion given there are no current adequate treatments for the disease, Front explained. Japan has a similarly-sized market.
The formulation was the result of a successful acquisition, Frost stated. Another lucrative deal was the October 2011 purchase of Claros.
In addition to purchases, Opko is in several partnerships with larger drug makers and will collect a share of revenue on drugs developer through the collaboration.
Frost pointed to Opko nearly completing a 4K test for prostate health and more information should be available in the “near future.”
Following the discussion, Cramer reiterated his support for Opko. The company has a proven track record and “uncanny” ability to acquire companies with breakthrough performances.
Shares are up 6.5 percent Tuesday.
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