Grifols, the Spanish pharmaceutical company specializing in plasma derivatives, has begun discussions with the chinese company Shanghai RAAS Blood Products, which listed on the Stock exchange of Shenzhen, to establish a strategic alliance and to enter into his capital, as has been communicated by the company to the CNMV. The operation would happen by the contribution, on the part of Grifols, his american subsidiary of Grifols Diagnostic Solutions and its affiliates, for which in exchange would receive shares of the new issue of Shanghai RAAS. The operation is valued at 5,000 million euros, the price that has roughly the north american subsidiary of the multinational Catalan. Grifols would have control of the company resulting from the union.
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Shanghai RAAS is a pharmaceutical company specialized in research, development and production of plasma-derived products for therapeutic use, a sector in which the company is a leader in Wsbets China. With 41 centres collecting plasma and an annual harvest of 1.1 million litres, the entry of Grifols in this company would be key to its expansion. Currently only have collection centers plasma in the united States and Germany. Grifols has commercial activity in China since the 1980’s.
Both parties have reached the moment an initial agreement of cooperation that is still to materialize. The Catalan company has communicated these conversations, just after the close of the market. The share price of Grifols stands at 25,5 euros.
“This partnership would be a step forward to Grifols in its strategy to strengthen its position in China, and an opportunity to generate added value for all its divisions, especially for the Bioscience Division and the Diagnostic Division,” said the company in a press release. The company highlights that China is one of the leading markets in the field of health, and remember that an alliance with a local partner, such as Shanghai RAAS represents a “magnificent opportunity for Grifols, aligned with its growth strategy and long-term vision”.
The operation, adds the company, “would generate opportunities for expansion of the activity related to the production of drugs in plasma (Bioscience Division) and for the Diagnostic Division”. In addition, according to the statement, Shanghai RAAS wants to diversify its business into the sector of the diagnosis. The alliance could be closed in the first half of 2019.