Grifols to buy Talecris Biotherapeutics

Published: 7-Jun-2010

Deal will create world-leading provider of plasma protein therapies

Spanish global healthcare firm Grifols is to purchase Talecris Biotherapeutics, a US manufacturer of plasma-based protein therapies for US$3.4bn (€2.8bn), creating a global leader in blood products.

The deal will increase Grifols’ global presence by adding market share in the US and Canada to its leading position in Europe. It also creates a more efficient platform for manufacturing, innovation and global sales and marketing.

On completion, the combined company will have the ability to produce more protein therapies from every litre of plasma; an established plasma collection operation capable of meeting the combined company's needs; and an accelerated path to improving the cost efficiency of the Talecris plasma platform.

It will also have a broad range of products addressing the neurology, immunology, pulmonology and haematology therapeutic areas and an enhanced r&d pipeline of complementary products and new recombinant projects that will drive growth.

Grifols’ chairman and ceo Victor Grifols said: ‘We look forward to combining the strengths of both companies to improve the quality of the lives of patients around the world, while positioning the enlarged group for long-term profitable growth.’

Talecris’ chairman and ceo Lawrence Stern added: ‘We believe that Grifols' well-established reputation and expertise will enable the combined entity to meet the needs of more patients. Our employees will benefit from the opportunities available to them as part of a larger, global organisation committed to the expansion of Talecris’ existing business, the development of our pipeline products, and the maintenance of our culture of compliance and quality.’

The deal is expected to generate approximately US$230 million in operating synergies.

The combined company will have pro-forma annual revenues of approximately US$2.8bn split 58% from North America, 28% from Europe and 14% from the rest of the world.

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