Grifols continues to increase its presence in plasma medicines. The Spanish pharmaceutical company has received approval from the German Federal Financial Supervisory Authority for the offer document submitted regarding the terms and conditions of the voluntary takeover bid launched to all Biotest AG shareholders to acquire the remaining ordinary and preferred shares in cash for $50 (€43) per share and $43 (€37) per share, respectively.
In September, Grifols agreed to acquire the entire share capital of Tiancheng (Germany) Pharmaceutical Holdings AG for $1.3 billion (€1.1 billion), which holds 90% of the ordinary shares and 1% of the preferred shares of Biotest AG. This amount includes a loan receivable granted by Tiancheng (Germany) Pharmaceutical Holdings to Biotest AG in the amount of approximately $363 million (€313 million).
The investment in Biotest significantly strengthens Grifols’ capabilities, including scientific and industrial capabilities. It will also contribute to strengthening the availability of plasma medicines, its commercial presence, and its portfolio of research and development (R&D) projects.
Read more on the subject and find the latest financial news from around the world with the Born2Invest mobile app. Our companion app is available for free for both Android and iOS devices and keeps its readers up to date with the latest market updates.
Grifols has opened a plasma donation facility in Cairo, the first in Egypt
In parallel, the investment will also help to expand and diversify Grifols’ plasma supply with the addition of 26 plasma centers in Europe and will strengthen its operations and revenues in Europe, the Middle East, and Africa.
The new proteins and synergies, both revenue and cost, are expected to generate significant added value, driving revenue growth and margin expansion: more than 7 billion euros in combined revenues and more than $2.3 billion (€ 2 billion) in EBITDA. This transaction is subject to various regulatory approvals and conditions. It is expected to close by the end of the first half of 2022.
In recent quarters, Grifols has continued to take a number of steps to increase access to plasma therapies. In addition to the Biotest transaction, the pharma has continued to expand and diversify its global network of plasma centers and has opened the first donation facility in Cairo, which is the first in Egypt, the Middle East, and Africa.
This opening has been carried out within the framework of the alliance signed with the Egyptian government to achieve self-sufficiency in plasma medicines.
The Spanish company has completed the sale of its hemostasis business
In addition to this first center, which will begin receiving plasma donations in November, 19 more centers are planned to be opened in 2022 and 2023 through the joint venture Grifols Egypt for Plasma Derivatives, formed by Grifols and the Egyptian National Service Products Organization (Nspo). The company continues with its announced plan to divest non-strategic assets and has completed the sale of its hemostasis business for approximately $25 million in cash.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [++ KuCoin Affiliate Program Review]
This week, we answer the two questions on everyone’s lips — What do SJWs and e/accs have in common? And...
BIPV Boom: By 2032, Building Integrated Photovoltaics Will Be Worth Over $143B
The next moves by the European Commission and the trend toward a real estate stock composed of Zero Emission Buildings...
French Fintech Company Qonto Launches SME Financing in Italy
Qonto is expanding its financial solutions for SMEs and professionals in Europe, launching the option for companies in Italy to...
Trusters and Leone Investments Finally Receive Approval Under EU Regulation
After almost a month under the new EU Regulation, two platforms, including the historic Trusters launched in 2018 and the...
Coinbase Wallet Has a New Feature: Send Crypto via Web Link
The exciting part is actually in the small print: This is because Coinbase covers the fees for transactions via stablecoin...
Fintech1 week ago
What Fintech Trends Will Mark 2024 in Latin America
Fintech3 days ago
Of the 346 Fintech Companies in Colombia, 35.6% Focus on the Digital Credit Market
Impact Investing1 week ago
Why the Carbon Credit Market Is Not Working
Cannabis2 weeks ago
Germany Plans to Legalize Home Cultivation and Possession of Cannabis as of April 1st, 2024