OPKO Health, a multinational biopharmaceutical and diagnostics company, has acquired Prolor Biotech, a clinical-stage biopharmaceutical company. Stockholders of Prolor will receive 0.9951 shares of OPKO common stock for each share of Prolor common stock. The stockholders of both companies approved all proposals presented at their respective stockholder meetings.

"With the inclusion of Prolor's pipeline, OPKO now has four products in phase III clinical development,” said Dr. Phillip Frost, OPKO's chairman and chief executive officer.

Prolor's drug candidates treat growth hormone deficiency, hemophilia, obesity and diabetes. OPKO also acquired Prolor’s technology platforms and R&D center.