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Grifols, S.A. (NASDAQ: GRFS) is a leading global healthcare company headquartered in Barcelona, Spain, with a legacy of over 75 years dedicated to improving the health and well-being of people around the world. As a vertically integrated plasma derivative producer, Grifols collects plasma and manufactures life-saving plasma-derived therapies. The company’s commitment to innovation and patient care has established it as a benchmark in the plasma collection market and transfusion medicine.
Grifols operates through three main business divisions:
- Bioscience: This division encompasses all plasma-related activities including research, development, collection, production, and sales of plasma-derived therapies. The acquisition of Talecris in 2011 and Biotest in 2022 significantly expanded the product portfolio, with the biopharma business contributing 84% of sales in 2023.
- Diagnostic: Providing innovative solutions for safe transfusions, therapy monitoring, and the detection of infectious and autoimmune diseases, this division focuses on research and novel technologies to enhance treatment outcomes and laboratory efficiency.
- Hospital: Specializing in non-biological pharmaceutical products, the Hospital division meets the diverse needs of healthcare facilities worldwide.
Grifols' latest advancements include the successful phase 4 trial of XEMBIFY® for primary immunodeficiencies, showing non-inferiority in Ig levels with biweekly dosing compared to weekly dosing. Additionally, the phase 2 trial of ABvac40, a potential Alzheimer’s vaccine, demonstrated a robust immune response and some cognitive benefits in patients with early-stage Alzheimer’s disease.
With a global presence in more than 100 countries, Grifols continues to grow its network of plasma donation centers, boasting over 390 locations across North America, Europe, Africa, the Middle East, and China. The company's economic impact in its core countries of operation was EUR 9.6 billion in 2022, generating 193,000 jobs including indirect and induced employment.
Grifols' class A shares are listed on the Spanish Stock Exchange as part of the Ibex-35 (MCE:GRF), while non-voting class B shares are listed on the Mercado Continuo (MCE:GRF.P) and the U.S. NASDAQ through ADRs (NASDAQ:GRFS).
Biotest, a Grifols Group company, has projected USD 1 billion in U.S. sales of its FDA-approved intravenous immunoglobulin, Yimmugo®, over the next seven years. Expected to launch in Q1 2025, Yimmugo will be distributed by Kedrion in the U.S. This marks Grifols' expansion in the U.S. market for immunodeficiency treatments, leveraging its existing portfolio and new proteins like fibrinogen and trimodulin, both in late-stage development. Yimmugo is the first Biotest product from their new FDA-certified facility in Germany, enhancing Grifols' strategy to meet rising demand for immunoglobulins.
Grifols has completed the sale of a 20% equity stake in Shanghai RAAS (SRAAS) to Haier Group for RMB 12.5 billion (EUR 1.6 billion). The strategic alliance aims to enhance China's healthcare system through synergies between Grifols' plasma and diagnostic expertise and Haier's healthcare solutions portfolio. Grifols retains a 6.58% stake in SRAAS and a seat on the Board of Directors. The exclusive albumin distribution agreement between Grifols and SRAAS is extended for 10 years, with an option to prolong it to 2044. Proceeds from the sale will be used by Grifols to reduce debt. The collaboration seeks to capitalize on China's growing demand for albumin and expand their footprint in life sciences, clinical medicine, and biotechnology.
The transaction has received regulatory approvals and compliance confirmation from the Shenzhen Stock Exchange. Grifols and SRAAS have worked together for four years, during which the Chinese hemoderivatives market has seen double-digit growth.
Grifols announced that its subsidiary Biotest has received FDA approval for Yimmugo®, an innovative intravenous immunoglobulin (Ig) to treat primary immunodeficiencies (PID). This approval marks Yimmugo as the first U.S.-approved medicine in Biotest’s portfolio, produced at their FDA-certified facility in Germany. Already approved in Europe, Yimmugo’s U.S. launch is expected in the latter half of 2024. The approval is anticipated to bolster Grifols' revenue and support its growth strategy. Additionally, Biotest has two more plasma proteins in late-stage development aimed at U.S. and other markets.
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