Grifols’ sales rise by a quarter

Grifols has seen year-on-year product sales rise by a quarter, according to reports out today.

The Spanish holding company states that consolidated net business turnover rose by 23.7 per cent in the first half of the year in comparison with the same period in 2005, with gross sales rising to 321.4 million euros (216.21 million pounds). Net profits also increased by 16 million euros (10.77 million pounds).

Rising demand in the US, higher selling prices and “operating efficiencies” have all been cited as reasons for the profit increase, as the company seeks to expand on the 14.1 per cent growth in research and development expenditure. It also cites a 45.5 per cent reduction in financial expenses as a reason for the recent growth.

The company states: “The organic growth achieved by Grifols during the first half of 2006 will be strengthened in the future by two acquisitions. In March 2006, Grifols acquired an American plasma collection company, PlasmaCare and in May it acquired eight plasmapheresis centres from Baxter.

It adds: “Both transactions will enable Grifols to secure supply of its main raw material in the coming years and position itself as one of the largest plasma collection companies in the world, with a total of 72 centres operating in the US.”

Though sales in the US were chiefly responsible for increased demand, European sales were also cited a factor. Grifols states that sales in Europe grew by five per cent in the first half of the year, with year-on-year growth for the rest of the world also up by over a quarter.

Grifols recently launched a new in vitro diagnosis line with the help of Italian company, Diesse Diagnostica Senese. The line, called Chorus, is predominantly marketed in the UK and the US and is used for individual infectious serology and autoimmunity tests.

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