Grifols sees positive performance in first quarter of 2011

Grifols has published its financial results for the first quarter of 2011, during which it experienced year-on-year growth.

The life sciences company increased its turnover compared to Q1 2010 by ten percent to a total of 261.4 million euros (228 million pounds), seeing higher sales volumes across all divisions.

Its bioscience, diagnostic and hospital products all saw increased demand, with the former accounting for 78 percent of total sales thanks to popular offerings such as its plasma derivatives and intravenous immunoglobulin solutions.

Grifols observed that the geographical breakdown of sales remained in line with 2010 trends, with international markets generating the majority of turnover, although its US performance saw a double-digit increase during the quarter.

The company is also setting the foundations for further growth in the future via measures such as the creation of a new plasma fractionation plant in the Barcelona region.

Last month, Grifols announced plans to found a new expert advisory council that will help to guide the direction of its transfusion medicine activities, thus allowing it to adopt creative approaches to key challenges.