logo
  

Grifols To Acquire Biotest AG In Germany

Grifols (GRFS) has reached an agreement with Tiancheng International Investment Ltd. to acquire 100% of the shares of Tiancheng (Germany) Pharmaceutical Holdings AG, German company owner of 89.88% of Biotest ordinary shares and 1.08% of Biotest preferred shares, for 1.1 billion euros. The deal values Biotest's equity at 1.6 billion euros. Parallel to the transaction, Grifols launches a voluntary public tender offer to acquire Biotest's remaining ordinary and preferred shares for 43.00 euros and 37.00 euros, respectively.

Headquartered in Dreieich, Germany, Biotest AG develops, produces and markets biological medicinal products with applications in hematology, clinical immunology and intensive care. Its current portfolio includes 12 different products with a global commercial footprint in more than 90 countries. Biotest has a manufacturing capacity of up to 1.5 million liters of plasma annually.

By 2024, Grifols expects combined revenues of over 7 billion euros, and more than 2 billion euros in EBITDA. The company anticipates notable increase in revenues and profit margins starting in 2023 through new product launches.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Kraft Heinz is recalling around 5,760 cases of Capri Sun Wild Cherry Flavored Juice Drink Blend beverages due to potential for chemical contaminants, the U.S. Food and Drug Administration said. The recall involves 6.6 FL OZ Capri Sun Wild Cherry Flavored Juice Drink Blend in individual foil pouches packed in paperboard cartons. Delta Air Lines is set to resume flights on its routes between the U.S. and Japan from October 30, 2002 in anticipation of easing of COVID-19-related travel restrictions, which were put in place two years ago. The airline joins American Airlines and United Airlines, who have reportedly announced the resumption of flights to Japan. Tech major Apple Inc. has asked corporate employees to return to offices at least three days a week by September 5, Bloomberg reported. The latest deadline was issued following several delays to its previous deadlines amid a resurgence in COVID-19 cases. As per the report, the company will require employees to work from offices on Tuesdays, Thursdays and a regular third day to be determined by...
Follow RTT