Grifols' CEO Sees Few Cuts at Talecris Biotherapeutics; Expects Layoffs to be Less Than 5%

RESEARCH TRIANGLE PARK, N.C., June 8, 2011 /PRNewswire/ -- (NASDAQ: GRFS) Grifols, a global healthcare company and biopharmaceutical manufacturer based in Barcelona, Spain, today announced that it has officially begun to merge its operations with Talecris Biotherapeutics in order to function as one company, following its acquisition of Talecris on June 1. Through the acquisition, Grifols will build upon its 70-year legacy of creating life-saving medicines and products by incorporating Talecris' substantial experience and skill in producing plasma protein therapies.

"The union of our two companies provides an infusion of energy and talent, and strengthens our commitment to our shared mission of providing life-saving therapies to patients with rare, chronic diseases," said Victor Grifols, President and CEO of Grifols. "The strength of our combined company is not simply its size; rather, it is the potential to achieve more for patients in the future than either company would be able to accomplish on its own."

Combining the respective capabilities of the two companies will allow Grifols to extract more products from each liter of plasma and thus increase the quantity of products and choices available to patients. The company's expanded global footprint will also improve patient access to critical-care protein therapies that are not widely available in many countries.

"The Grifols family has been a leader in producing safe, effective plasma therapies," said John Walsh, president and CEO of the Alpha-1 Foundation. "Under Victor Grifols' leadership we expect that family culture to expand in the United States. The Alpha-1 community has always been a family, and we look forward to a complementary blending of two family traditions."

"Grifols and Talecris have each made significant contributions to the treatment of people with primary immune deficiencies," said Marcia Boyle, President and Founder of the Immune Deficiency Foundation (IDF), the national patient organization for persons with primary immune diseases. "The union of these companies will bring even greater benefits to patients through the development of new products and greater access for patients," said Ms. Boyle.

Formal integration teams comprising representatives from both companies are now collaborating to develop systems and processes that will facilitate a smooth transition. The companies will unite their respective strengths and patient-centric cultures to create a stronger global competitor with a broader geographic reach and a more diverse product portfolio.

"There is tremendous potential to grow and learn from one another as we pursue our goal of creating a unified team that builds on the successes we achieved as separate companies," said Gregory Rich, president and CEO of Grifols North American operations. "As the integration process moves forward over the next twelve months, we will remain focused on providing the highest quality products and services to the patients and healthcare providers we serve."

Talecris will adopt the Grifols, Inc. name as the North American corporate subsidiary of Grifols, S.A., the Spanish holding company based in Barcelona, Spain. Grifols remains strongly committed to continuing the planned expansions in manufacturing, funding a robust research and development program, and growing its global presence throughout Europe, North America, Asia and Australia.

About Grifols

Grifols is a Spanish holding company that specializes in the pharmaceutical-hospital sector and is present in more than 90 countries. The company's class A shares have been listed on the Spanish Stock Exchange ("Mercado Continuo") since 2006 under the symbol GRF and have been part of the Ibex-35 since 2008. In 2011, the company listed non-voting class B shares on the Mercado Continuo under the symbol GRF.P and in the United States on the NASDAQ under the symbol GRFS.

After the recent purchase of Talecris, Grifols is now the third largest company worldwide in the plasma protein therapies sector, with a balanced and diversified range of products. In upcoming years, the company will strengthen its leadership in the industry as a vertically integrated company as a result of on-going investment plans. Grifols is the world leader in plasma collection with 147 plasma donor centers in the United States to ensure a continued and reliable supply of human plasma for the production of plasma therapies. In terms of production capacity (fractionation), Grifols owns and operates several plants in Spain and the United States that allow it to respond to the growing market demand. Grifols' sustained growth will be supported by a strong presence in the United States, Canada and Europe, where upcoming sales will represent 53%, 7% and 26%, respectively.

DISCLAIMER

The facts and figures contained in this report which do not refer to historical data are "projections and forward-looking statements". The words and expressions like "believe", "hope", "anticipate", "predict", "expect", "intend", "should", "try to achieve", "estimate", "future" and similar expressions, insofar as they are related to Grifols Group, are used to identify projections and forward-looking statements. These expressions reflect the assumptions, hypothesis, expectations and anticipations of the management team at the date of preparation of this report, which are subject to a number of factors that could make the real results differ considerably. The future results of Grifols Group could be affected by events related to its own activity, such as shortages of raw materials for the manufacture of its products, the launch of competitive products or changes in the regulations of markets in which it operates, among others. At the date of preparation of this report, Grifols Group has adopted the measures it considers necessary to offset the possible effects of these events. Grifols, S.A. does not assume any obligation to publicly inform, review or update any projections and forward-looking statements to adapt them to facts or circumstances following the preparation of this report, except as specifically required by law.

This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish Securities Market Law 24/1988, of July 28, the Royal Decree-Law 5/2005, of March 11, and/or Royal Decree 1310/2005, of November 4, and its implementing regulations.

SOURCE Grifols