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<TITLE> OPKO Health, Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	&nbsp;
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	December 13, 2014
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	OPKO Health, Inc.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Delaware
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	001-33528
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	75-2402409
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	4400 Biscayne Blvd., Miami, Florida
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	33137
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_________________________________<BR>
	(Address of principal executive offices)
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	&nbsp;
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___________<BR>
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	Registrant&#146;s telephone number, including area code:
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	(305) 575-4100
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B>
</FONT>

<P align="left" style="font-size: 11pt; text-indent: 1%"><FONT style="font-size: 10pt">On December&nbsp;13, 2014, OPKO Health, Inc. (&#147;OPKO&#148;), OPKO Ireland Ltd. (&#147;OPKO Ireland&#148;, and
together with OPKO, the &#147;Company&#148;), and Pfizer, Inc. (&#147;Pfizer&#148;) entered into a Development,
Commercialization License Agreement (the &#147;Agreement&#148;) for the Company&#146;s long-acting human growth
hormone product (hGH-CTP) for the treatment of growth hormone deficiency (GHD).
</FONT>

<P align="left" style="font-size: 10pt; text-indent: 1%">Under the terms of the Agreement, the Company granted to Pfizer an exclusive license under
applicable patents, patent applications, and know-how owned by OPKO to develop, commercialize, and
manufacture hGH-CTP. The Company will receive an initial payment of $295&nbsp;million within fifteen
(15)&nbsp;days of closing, a portion of which will be used by OPKO to fund research and development
expenses. OPKO is also eligible to receive up to an additional $275&nbsp;million upon the achievement
of certain regulatory milestones.


<P align="left" style="font-size: 10pt; text-indent: 1%">Under the Agreement, the Company is eligible to receive tiered, double digit royalty payments
upon commencement of sales of hGH-CTP for adult GHD. Upon the approval and launch of hGH-CTP for
pediatric GHD in certain major markets, the Agreement will convert into a regional tiered profit
sharing arrangement covering sales of hGH-CTP and Pfizer&#146;s Genotropin&#174; for all indications in the
applicable region.


<P align="left" style="font-size: 10pt; text-indent: 1%">As part of the strategic collaboration, the companies will share responsibility for the
conduct of trials specified within an agreed-upon global development plan, with each company
leading certain activities within the plan. OPKO will lead the clinical activities and Pfizer will
lead the manufacturing activities covered by the global development plan. Development activities
under the global collaboration will be managed through a shared governance structure with both
companies having equal representation on a joint steering committee. For the initial global
development plan agreed to by the companies, OPKO will fund their development activities subject to
an agreed upon cap. Costs in excess of the cap will be allocated between the parties in accordance
with the Agreement. Pfizer will be responsible for all development costs for additional markets
and indications that are not part of the development plan, as well as all post-marketing studies
and commercialization activities.


<P align="left" style="font-size: 10pt; text-indent: 1%">The Agreement will remain in effect until the last sale of the Licensed Product, unless
earlier terminated as permitted under the Agreement. In addition to termination rights for
material breach and bankruptcy, Pfizer is permitted to terminate the Agreement in its entirety, or
with respect to one or more world regions, without cause after a specified notice period. If the
Agreement is terminated by OPKO for Pfizer&#146;s uncured material breach, or by Pfizer without cause,
provision has been made for transition of product and product responsibilities to OPKO for the
terminated regions, as well as continued supply of product by Pfizer or transfer of supply to OPKO
in order to support continued development and commercialization of product.


<P align="left" style="font-size: 10pt; text-indent: 1%">The transaction is subject to clearance by the U.S. antitrust authorities under the
Hart-Scott-Rodino Act and is expected to become final as soon as such clearance has occurred.


<P align="left" style="font-size: 10pt; text-indent: 1%">A copy of the press release announcing the Agreement is attached hereto as Exhibit&nbsp;99.1 and
incorporated by reference herein.


<P align="left" style="font-size: 10pt; text-indent: 1%">The foregoing description is a summary only and is qualified in its entirety by reference to
the Agreement, which will be filed as an exhibit to the Company&#146;s Annual Report on Form 10-K for
the year ending December&nbsp;31, 2014.


<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>
</FONT>

<P align="left" style="font-size: 11pt; text-indent: 4%"><FONT style="font-size: 10pt">(d)&nbsp;Exhibits
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Description</DIV></TD>
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    <TD align="right" valign="top">99.1</TD>
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    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press Release of the Company dated December&nbsp;15, 2014</DIV></TD>
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	OPKO Health, Inc.
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	December 15, 2014
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	By:
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<I>
	Adam Logal
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	Name: Adam Logal
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	Title: Senior Vice President-Chief Financial Officer
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	Exhibit&nbsp;Index
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	Description
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	99.1
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Press Release of the Company dated December 15, 2014
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OPKO Health, Inc. (Form: 8-K)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
December 13, 2014
OPKO Health, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware
001-33528
75-2402409
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
4400 Biscayne Blvd., Miami, Florida
33137
_________________________________
(Address of principal executive offices)
___________
(Zip Code)
Registrant's telephone number, including area code:
(305) 575-4100
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Top of the Form
Item 1.01 Entry into a Material Definitive Agreement.
On December 13, 2014, OPKO Health, Inc. ("OPKO"), OPKO Ireland Ltd. ("OPKO Ireland", and
together with OPKO, the "Company"), and Pfizer, Inc. ("Pfizer") entered into a Development,
Commercialization License Agreement (the "Agreement") for the Company's long-acting human growth
hormone product (hGH-CTP) for the treatment of growth hormone deficiency (GHD).
Under the terms of the Agreement, the Company granted to Pfizer an exclusive license under
applicable patents, patent applications, and know-how owned by OPKO to develop, commercialize, and
manufacture hGH-CTP. The Company will receive an initial payment of $295 million within fifteen
(15) days of closing, a portion of which will be used by OPKO to fund research and development
expenses. OPKO is also eligible to receive up to an additional $275 million upon the achievement
of certain regulatory milestones.
Under the Agreement, the Company is eligible to receive tiered, double digit royalty payments
upon commencement of sales of hGH-CTP for adult GHD. Upon the approval and launch of hGH-CTP for
pediatric GHD in certain major markets, the Agreement will convert into a regional tiered profit
sharing arrangement covering sales of hGH-CTP and Pfizer's Genotropin® for all indications in the
applicable region.
As part of the strategic collaboration, the companies will share responsibility for the
conduct of trials specified within an agreed-upon global development plan, with each company
leading certain activities within the plan. OPKO will lead the clinical activities and Pfizer will
lead the manufacturing activities covered by the global development plan. Development activities
under the global collaboration will be managed through a shared governance structure with both
companies having equal representation on a joint steering committee. For the initial global
development plan agreed to by the companies, OPKO will fund their development activities subject to
an agreed upon cap. Costs in excess of the cap will be allocated between the parties in accordance
with the Agreement. Pfizer will be responsible for all development costs for additional markets
and indications that are not part of the development plan, as well as all post-marketing studies
and commercialization activities.
The Agreement will remain in effect until the last sale of the Licensed Product, unless
earlier terminated as permitted under the Agreement. In addition to termination rights for
material breach and bankruptcy, Pfizer is permitted to terminate the Agreement in its entirety, or
with respect to one or more world regions, without cause after a specified notice period. If the
Agreement is terminated by OPKO for Pfizer's uncured material breach, or by Pfizer without cause,
provision has been made for transition of product and product responsibilities to OPKO for the
terminated regions, as well as continued supply of product by Pfizer or transfer of supply to OPKO
in order to support continued development and commercialization of product.
The transaction is subject to clearance by the U.S. antitrust authorities under the
Hart-Scott-Rodino Act and is expected to become final as soon as such clearance has occurred.
A copy of the press release announcing the Agreement is attached hereto as Exhibit 99.1 and
incorporated by reference herein.
The foregoing description is a summary only and is qualified in its entirety by reference to
the Agreement, which will be filed as an exhibit to the Company's Annual Report on Form 10-K for
the year ending December 31, 2014.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
99.1
Press Release of the Company dated December 15, 2014
Top of the Form
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
OPKO Health, Inc.
December 15, 2014
By:
Adam Logal
Name: Adam Logal
Title: Senior Vice President-Chief Financial Officer
Top of the Form
Exhibit Index
Exhibit No.
Description
99.1
Press Release of the Company dated December 15, 2014