SpainSpain

Grifols expands with EUR2.8bn deal

08.06.2010

Barcelona/Triangle Park – Spanish producer of plasma protein therapies Grifols is to acquire US public biopharmaceutical company Talecris, in a deal worth approximately $3.4 billion (EUR2.8 billion). The merger will improve Grifols’ presence in the North American market and under the terms of the agreement, Grifols will acquire all of the common stock of Talecris for $19.00 in cash and 0.641 newly-issued non-voting Grifols’ shares for each Talecris share. This represents an implied price of $26.16 per Talecris share, a premium of 53% to the average closing price of Talecris common stock over the last 30 days. The total implied offer value for Talecris is $3.4bn (EUR2.8bn) and the resulting transaction value, including net debt, is approximately US$4.0 billion (EUR3.3 billion). The newly-issued, non-voting, Grifols shares will be listed on the NASDAQ Global Market and the Mercado Continuo (Spain) and will carry the same dividend and economic rights as Grifols’ ordinary shares. The Boards of Directors of both Grifols and Talecris have unanimously approved the transaction and recommended it to their respective shareholders. The acquisition is expected to generate approximately $230 million in operating synergies from a more efficient plasma collection network, optimized manufacturing sales, marketing and R&D, which Grifols expects to realize over next four years with an associated one-time cost of $100 million. The transaction is expected to be accretive to earnings in the first year and produce meaningful accretion from year two. The combined company will have pro-forma annual revenues of approximately $2.8 billion with 58% coming from North America, 28% from Europe and 14% from the rest of the world.

SpainSpain

08.03.2012

Granada-based Integromics S.L. has teamed up with the Galician Foundation of Genomic Medicine (FPGMX) in Santiago de Compostela to secure a €1m EU grant from the European Regional Development Fund and the Spanish government. With...

SpainSpain

08.03.2012

Oryzon Genomics S.A (Barcelona) is entering preclinical testing with a first-in-class bispecific LSD1/MAO-B inhibitor. In addition to the classic target MAO-B, the drug also blocks histone demethylase LSD1, an epigenetic histone...

SpainSpain

06.03.2012

Granada-based nLife Therapeutics S.L. has raised €5m in total from two venture capitalists. Through Caixa Capital Risc and Caixa Capital Biomed, La Caixa invested €2.5m. The same amount has been placed by Invercaria via its...

SpainSpain

05.03.2012

Ordesa Laboratories has filed a patent for a novel Bifidobacterium strain isolated from infant feces. It has the capacity to combat rotavirus, says a study (Appl. Environ. Microbiol., doi:10.1128/AEM.05548).

SpainSpain

19.12.2011

Madrid – Researchers from Spain and the US have discovered an Ebola-like filovirus in bats in northern Spain. The first known filovirus native to Europe was reported in a study published in the journal PLOS Pathogens...

SpainSpain

15.12.2011

Barcelona - South western Europe gets a new R&D unit in the field of biomolecules. Kymos Pharma, a contract researcher based in Barcelona, has signed an agreement with the French biotechnology group Ipsen to create a R&D group...

SpainSpain

12.12.2011

Barcelona/Saffron Walden – Almirall S.A. and BioFocus announced that they have entered into a collaboration agreement to identify new compounds against key targets in projects aimed at the treatment of respiratory and...

SpainSpain

03.12.2011

Madrid/Abu Dhabi – Spanish biotechs are seeking collaborations with firms in the United Arab Emirates. At the end of November, Grupo Zeltia and 14 other Spanish companies presented their research at the forum “Innovation,...

SpainSpain

01.10.2011

Madrid – The Spanish Minister of Innovation and Science Cristina Garmendia has responded to reports about Roche’s­ delivery stop in Greece and pessimistic expectations for Spain. In Sept­ember, she stressed that the atmosphere...

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