▷ Grifols receives BaFin approval for voluntary public takeover offer …

26.10.2021 – 13:12


Barcelona, ​​Spain (ots)

Grifols strengthens strategy to improve the availability of drugs from blood plasma

  • the Federal Financial Supervisory Authority (“BaFin”) has approved the documents submitted by Grifols for the takeover offer.
  • In September 2021, Grifols agreed to acquire Tiancheng (Germany) Pharmaceutical Holdings, which holds 90% of the common shares and 1% of the preferred shares of Biotest AG, for 1.1 billion euros. The amount includes a loan claim of 313 million euros.
  • Grifols has made a voluntary public takeover offer to all remaining shareholders to acquire the remaining ordinary and preference shares in Biotest AG at a price of EUR 43.00 per share or EUR 37.00 per share in cash.
  • This acquisition will significantly strengthen Grifols: The company’s product portfolio and market position will be accelerated and expanded, which will enable the company to improve its growth and profitability.
  • Over the past few quarters, Grifols has expanded and diversified its access to plasma and further cemented its leadership position with its global network of plasma centers in the United States, Europe, China and Africa.

Grifols has received approval from the German Federal Financial Supervisory Authority (BaFin) for its voluntary takeover offer from Biotest. It is aimed at all shareholders of Biotest AG to acquire the remaining ordinary and preference shares in cash at a price of EUR 43.00 per share or EUR 37.00 per share.

Approval is an important step in completing the transaction. Biotest and Grifols will continue to pursue their corporate goals and join forces to increase the availability of plasma therapies worldwide.

Grifols (MCE: GRF, MCE: GRF.P, NASDAQ: GRFS) is a leading global healthcare company with over 110 years of contributing to human health and wellbeing, and an industry pioneer in plasma-based drugs, transfusion diagnostics, and hospital pharmacy solutions .

In September 2021, Grifols agreed to pay 1.1 billion euros for 100% of the shares in Tiancheng (Germany) Pharmaceutical Holdings AG, which holds 90% of the common shares and 1% of the preferred shares of Biotest AG. The transaction amount includes a loan claim from Tiancheng (Germany) Pharmaceutical Holdings AG to Biotest AG in the amount of around EUR 313 million.

Investing in Biotest strengthens Grifols’ business, including its scientific and industrial competencies. It helps improve the global plasma-derived drug availability, market presence and R&D pipeline.

Therefore, Grifols welcomes the recent and promising results from Biotest in the analysis of the full dataset of the ESsCOVID (Escape from severe COVID-19) study, which shows the effectiveness of trimodulin (IgM concentrate) in a relevant subgroup of seriously ill COVID-19. Patient has proven.

At the same time, this investment will expand and diversify Grifols’ plasma sourcing: the European network will be expanded to include 26 plasma centers, while business and sales in Europe, the Middle East and Africa will grow at the same time.

New proteins and revenue and cost synergies are expected to add significant value and drive revenue growth and margin expansion. That means: more than 7 billion euros combined sales, more than 2 billion euros EBITDA, an EBITDA margin of over 30% and a leverage ratio of under 3.5x by 2024.

The transaction is subject to regulatory approvals and conditions and is expected to close by the end of the first half of 2022.

Grifols continues to advance its integrated strategy to improve plasma supply

IIn the past few quarters, Grifols has continued to advance several initiatives to improve access to plasma-based therapies, adding to its strong commitment to donors and patients.

In addition to the Biotest transaction, Grifols has further diversified its global network of plasma centers and recently opened a plasma donation center in Cairo, the first ever in Egypt, the Middle East and Africa. The new center is part of the groundbreaking public-private alliance with the Egyptian government to promote the country’s self-sufficiency in plasma-based drugs.

In addition to this first center, which will begin collecting plasma donations in November, the company plans to open 19 more centers in 2022 and 2023 through Grifols Egypt for Plasma Derivatives, a joint venture between Grifols and the Egyptian National Service Products Organization (NSPO).

The network of plasma donation centers will have a capacity of 1 million plasma liters per year.

Grifols’ strategy could trigger similar initiatives in other countries and help the company to consolidate and expand its globally diversified network of plasma centers – a clear competitive advantage.

As part of its current expansion plan to increase plasma supply, Grifols plans to expand its network worldwide through the acquisition of plasma centers, supply contracts and public-private partnerships, with a geographic focus in the United States, Europe, China and Africa.

To this end, Grifols continues to optimize its supply chain efficiency through continuous operational improvements and robust inventory management.

Grifols to divest its hemostasis technology business

Grifols continues its announced plan to dispose of non-strategic assets and recently completed the sale of its Hemostasis business for approximately $ 25 million in cash.

The transaction includes all assets related to the diagnosis of hemostatic disorders, including tests (reagents) and related intellectual property, R&D projects and manufacturing know-how, and tools to automate diagnostic coagulation tests. The divestment also includes all of Grifols’ hemostasis-related R&D and manufacturing equipment. The 25 employees were also transferred to the new company.

Grifols will continue to evaluate its product portfolio and prioritize growth and profitability in line with its long-term value strategy.

NOTE: Biotest’s voluntary offer document is public and can be accessed at https://www.grifols.com/es/biotest-voluntary-takeover-offer can be viewed (in German and a non-binding translation in English).

About Grifols

Grifols is a global healthcare company founded in Barcelona in 1909 that is committed to improving the health and wellbeing of people around the world. Its four divisions – Bioscience, Diagnostic, Hospital and Bio Supplies – develop, produce and market innovative solutions and services that are sold in more than 100 countries.

As a pioneer in the plasma industry, Grifols operates a growing network of donation centers around the world. It processes collected plasma into indispensable drugs for the treatment of rare, chronic, and sometimes life-threatening diseases. As a recognized leader in transfusion medicine, Grifols also offers a comprehensive portfolio of solutions that increase safety from donation to transfusion. In addition, the company provides equipment, information and services that enable hospitals, pharmacies and healthcare professionals to efficiently provide expert medical care.

Grifols, with almost 24,000 employees in 30 countries, is committed to a sustainable business model that sets the standard for continuous innovation, quality, safety and ethical leadership.

In 2020, the socio-economic impact of Grifols in its core business countries was 7.5 billion euros. The company also created 140,000 jobs, including indirect and induced jobs.

The company’s Class A shares are listed on the Spanish Stock Exchange, where they are part of the Ibex-35 (MCE: GRF). Grifols’ Class B non-voting shares are listed on the Mercado Continuo (MCE: GRF.P) and via ADRs on the US NASDAQ (NASDAQ: GRFS).

For more information on Grifols please visit www.grifols.com.

Press contact:

Contact for investors
Investor Relations und Sustainability:
[email protected]
[email protected]
Tel. +34 93 571 02 21

Media contacts:
Duomo Communication – Grifols Pressestelle
Rachel Lumbreras
[email protected]
Borja Gomez
[email protected]
Tel. +34 91 311 92 89 – 91 311 92 90

Grifol’s press office
[email protected]
Tel. +34 571 00 02

Grifol’s press office in Germany
Rüdiger Litzba
[email protected]
Tel. +49 151 2122 9144

Original content by: Grifols, transmitted by news aktuell


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