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NEW YORK – Opko Health announced Thursday it has priced its offering of 50 million shares of common stock at $1.50 per share.

Gross proceeds from the offering are expected to be $75 million.

The Miami-based company said it intends to use the funds for R&D and to further develop and commercialize its portfolio of proprietary pharmaceutical and diagnostic products, along with other general corporate purposes like working capital, acquisitions, and capital expenditures.

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