# Grifols

Grifols, S.A. (Catalan:) is a global healthcare company and manufacturer of plasma-derived medicines founded in Barcelona, Spain, in 1909. With a workforce of over 23,000 employees, Grifols serves more than 110 countries and regions and maintains a direct presence in over than 30.
Principally a producer of blood plasma–based products, a field in which it is the European leader and third largest worldwide, and other biopharmaceutical solutions, the company is also a leader in transfusion medicine, supplying devices, instruments and reagents for clinical testing laboratories, in addition to clinical diagnostic technologies. Its portfolio of solutions is designed to enhance safety from donation to transfusion. Grifols also provides high-quality biological supplies for life-science research, clinical trials and for manufacturing pharmaceutical and diagnostic products. Additionally, the company supply tools, information and services that enable hospitals, pharmacies and healthcare professionals to deliver expert medical care.
Grifols is focused on treating chronic, rare and prevalent conditions across a broad range of therapeutic areas: immunology, hepatology and intensive care, pulmonology, hematology, neurology and infectious diseases.

## History

Grifols began in 1909 when hematologist and scientist Josep Antoni Grífols i Roig founded a clinical analysis laboratory in Barcelona: the Instituto Central de Análisis Clínicos, Bacteriológicos y Químicos, a precursor to Laboratorios Grifols. In Spain, Grífols i Roig patented the first instrument for carrying out indirect blood transfusions, the transfusion flebula. Post-war, Grífols i Roig and his sons, Josep Antoni Grifols i Lucas, a hematologist, and Víctor Grifols i Lucas, a chemist and pharmacist, founded Laboratorios Grifols, which began the start of the business dedicated to clinical analysis and the preparation of freeze-dried plasma.
In 1951, for the first time in the world, the results of a systematic application of the plasmapheresis technique in humans was published in the British Medical Journal thanks to a study led by Josep Antoni Grífols i Lucas and in 1958.
Grifols opened its first plasma fractionation plant in Barcelona. From there, the company grew, with production expanding in 1972 with the opening of a new manufacturing site in Parets del Vallès (Barcelona).
Control of the company was handed down to Víctor Grifols Roura in 1987, when Grifols created the holding company Grupo Grifols. This unified the commercial company with its clinical diagnostic, plasma-derived medicines and parenteral solutions operations. From there, in 1988 Grifols opened its first subsidiary, in Portugal, marking the beginning of the company’s international expansion.
Probitas Pharma, S.A. was incorporated with high limited liability under Spanish law on 22 June 1987; on 27 June 2005 the company changed its name to Grifols, S.A. In 2003 the company acquired certain assets of the Los Angeles–based Alpha Therapeutic (US subsidiary of Mitsubishi Pharma) as the basis of its American expansion. On May 17, 2006, Grifols securities were listed on Spain's Mercado Continuo.
In 2009, CSL Limited attempted to takeover Talecris Biotherapeutics (the former plasma business of Bayer HealthCare LLC, Biological Products Division) for $3,1 billion but was stopped by the Federal Trade Commission. On 1 June 2011, a year after announcing the $4 billion deal, Grifols completed a takeover of Talecris Biotherapeutics, headquartered in Research Triangle Park in North Carolina, with over 2000 employees.
Grifols acquired the blood transfusion diagnostics unit from Novartis in 2013 as a "platform for global expansion". This unit is based in Emeryville, California and was a part of Chiron acquired by Novartis in 2006.
In 2015, the company acquired a 45% stake in Alkahest as part of planned co-development of "plasma-based products for the treatment of cognitive decline in aging and disorders of the CNS, including Alzheimer's." In 2020 Grifols acquired the remaining stock of Alkahest “bringing its ownership of Alkahest to 100%”.
In December 2016, Grifols acquired Hologics interest in their existing joint blood screening unit for $1.85 billion
In February 2022, Biotest AG and four other companies were fined by the Romanian Competition Council for having limited or interrupted the supply of essential immunoglobins with the goal of pressuring the government into removing a tax on their blood products from 2015 to 2018. Biotest was acquired by Grifols in April 2022.
Between January and March 2024, short seller fund Gotham City Research published several reports questioning Grifols financial accounting. In January 2024, following the first of such reports, Grifols market value fell by 40%, wiping $3.83 billion off its market value, leading to the drugmaker "categorically" denying any wrongdoing. In February 2024, Grifols rejected what it considered were Gotham's "malicious, false and misleading insinuations" that had the "sole objective of destabilising Grifols and causing doubts amongst institutional investors". By 6 March 2024, the share price had fallen to a 12-year low. In April 2024, Grifols announced it was bringing in independent directors to remedy the situation. In July 2024, the Grifols family and Canadian fund Brookfield agreed to evaluate a possible joint takeover bid for the company with the intent to delist it from the Nasdaq and the Bolsa de Madrid stock exchanges. In December 2024, Private equity firm Brookfield is nearing a potential takeover of Grifols following a period of turmoil for the pharmaceutical company. Brookfield is reportedly preparing to acquire a 65% controlling stake in the company for approximately $11 per share, valuing the deal at around $7.4 billion. This offer falls slightly below Grifols’ current share price and significantly below its $15.85 value at the start of the year.

## Main products

Grifols is one of the major world supplier of IVIG, albumin, Factor VIII and other plasma-derived products. The therapies Grifols produces include:
* Immunoglobulins to treat patients with primary and secondary immunodeficiencies, neurological disorders and more.
* Albumin to treat patients with intensive care needs and patients with liver disease.
* Factor VIII to treat patients with hemophilia A and other blood-related disorders.
* Alpha-1 to treat patients with genetic emphysema, a type of chronic obstructive pulmonary disease (COPD).
* Antithrombin to treat patients with hereditary antithrombin deficiency (a blood-clotting problem).
* Specific hyperimmune immunoglobulins used post-exposure to prevent rabies, tetanus and other diseases.

## Operations

In 2007 the company had 3.6 million litres per year of blood fractionation capacity from three plants, one at Parets del Vallès near Barcelona in Spain (2.1 million litres per year), another in Los Angeles (1.5 million litres but being expanded to 2.2 million litres), and a site in Clayton, North Carolina. In the United States the company owns 230 plasmapheresis centres, where it collects around 5.8 million litres of plasma per year.

## Ownership

Grifols was listed on the Madrid Stock Exchange in May 2006. The stock became part of the IBEX 35 index in January 2008.