$460M Purchase Will Make Grifols Canada’s Plasma Products’ Only Large-Scale Commercial Manufacturer
Recently, the global healthcare giant, Grifols, had announced that it would expand its operations in North Carolina. The expansion, driven by an investment of $351.6 million, would see the construction of a new blood-plasma facility and logistics center at its manufacturing campus in Clayton, Johnston County.
Now, the international leader in manufacturing and supplying life-saving plasma therapies, has announced that it will expand its operations in Canada. On July 20, it announced that it had come to an agreement on purchasing South Korean-based GC Pharma. The transaction of $460 million, second in the series of whopping investments, is still subject to regulatory approvals but is expected to be completed before the end of this year.
Joel Abelson, President of Grifols’ Bioscience Commercial Division, explained that Canada “is a market with one of the highest rates of plasma consumption per capita in the world and one with significant growth potential.” The purchase will see Grifols acquire their Montreal-based fractionation facility and two purification facilities, making Grifols the only large-scale commercial manufacturer of plasma products in Canada. (Fractionation is a vital process in the manufacturing of plasma therapies. It is the process of separating or isolating the proteins in your donated plasma. It is these precious proteins that life-saving therapies are based upon.)
What’s more, along with these facilities in Canada, Grifols will also acquire 11 collection centers based in the US.
The investment, like its previous major investment, strengthens Grifols’s efforts to fulfill its biggest commitment: ensuring safe, unconstrained access to high-quality plasma products to vendors and patients worldwide. As Víctor Grífols Deu, co-CEO of Grifols explained: “This deal builds on our long-term vision and strategy of sustainable growth, and wholly aligns with our commitment to helping countries reach self-sufficiency of life-sustaining plasma-derived medicines, which are critical for patients who need them.”
And such a commitment could never be more urgent. As Grifols co-CEO Raimon Grífols Roura noted, “This pandemic underscores the need to support robust and sustainable health infrastructures that, in case of other emergent pathogens in the future, will help ensure the availability of plasma medicines.”
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