Grifols Acquires 60 Pct Stake in Progenika for $48 Million
Published: Mar 08, 2013
Grífols is the world’s third largest company producing haemo-derivatives, the pharmaceutical products that derive from blood plasma. The €256.7 million-profit represents 10% of the company’s sales. The Catalan pharmaceutical had a €2.620.9-billion turnover, which represents an increase of 46.0% compared to 2011. In addition, Grífols’ revenue represents a 13.8% increase compared to that of the previous year.
An international company
The weight of the Spanish market only represented 8% of Grífols’ revenue in 2012, while it was 10% in 2011. The sales abroad represented more than €2.407 billion, and the United States and Canada pop up as the main markets. 21.3% of the sales were made in Europe, a 6.2% increase compared to the previous year, reaching €559.3 million. In Latin America and Asia, sales continue to increase and currently both markets combined represent 14.2% of Grífols’ revenue, which means €371.6 million.
Furthermore, Grífols’ net wealth grew over 2012 and reached €1.88 billion, as a consequence of the larger profits. The net debt reached €2.396 billion. By the end of 2012, Grífols had achieved most of the investments foreseen up to 2015. In this vein, last year Grífols invested 156.1 million in enlarging and improving its producing facilities in Spain and the States. Within the next three years, up to 2015, the Catalan pharmaceutical will invest €400 million, 30% of which will be in Spain.
Investing in R&D
In addition, Grífols invested €124.4 million in 2012 in research and development, which represents 4.7% of its sales volume. With this investment, Grífols continues to lead the field of corporate medical research and development in Spain. During last year, the Catalan company backed 12 medical studies to develop new products. A result of Grífols’ investment in R&D is the number of patents obtained each year. By the end of 2012, the group, which has its headquarters in Sant Cugat del Vallès (in Greater Barcelona), had 1,153 patent certificates, 337 of which are currently in the end stages for their final approval.
Grífols ended 2012, with a slight decrease in the size of their staff, dropping from 11,230 employees in 2011 to 11,108 in December. However, in Spain, Grífols increased the size of its staff by 3.5%, increasing from 2,390 to 2,474 employees.
Grífols buys 60% of Progenika Biopharma
The Catalan company is continuing its expansion plan and announced this week the purchase of 60% of the capital of the Basque biotechnology company, Progenika Biopharma. The operation cost €37 million. Grífols paid 50% in cash and the rest in stocks without voting rights. Progenika Biopharma specialises in designing and producing genomic and proteomic tests for in vitro diagnosis, prognosis of illnesses, answering predictions and monitoring of pharmacological therapy. The Basque company is also working on a cutting-edge innovation regarding the development of molecular diagnosis technologies.