Catalan healthcare company to acquire US firm Talecris

The 3.4 billion dollar purchase of Talecris Biotherapeutics will allow Grifols to occupy third spot in the US. Grifols already leads the production in Europe. While the operation will generate millions of euros, it is expected to raise Grifols? immediate

Mireia Sánchez

June 11, 2010 04:08 AM

Barcelona (CNA).- Catalan healthcare company Grifols has agreed to acquire US firm Talecris Biotherapeutics for 3.4 billion dollars, including a 4.5 million dollar debt. According to Grifols’ financial director, Alfredo Arroyo, the acquisition will be paid for the end of 2010 by means of a combination of cash and stock. The deal will allow the company to expand its share to almost a third of the United States market, although it already leads the production in Europe.

The Catalan pharmaceutical company Grifols announced this week that they will sign a definitive agreement to acquire the US company Talecris Biotherapeutics for 3.4 billion dollars (2.8 billion euros). The acquisition includes a financial net debt of 4.5 billion dollars (3.7 billion euros). Talecris is expected to close during the second half of 2010. The Catalan company leads the production of blood plasma products and therapies in Europe and, with this acquisition, it aspires to obtain the third position in the United States. Moreover, Grifols will also acquire two important products in the United States, Prolastis and Garmex, which control their respective market sector with 77% of the sales.

Despite the fact that this acquisition is expected to generate approximately 230 million euros in operating synergies, it will raise Grifols debt. In fact, on Monday morning, its shares fell by 6 percent. Grifols’ financial director announced that “it was not a risky operation, but a business operation that we perfectly understand. Talecris is just a big company in the United States and our efficiency processes are better”.