Pharmaceutical industry – Biotest switches to Spanish – Economy

Hesse Biotest’s drug maker is sold to Spanish competitor Grifols. The Barcelona company, which specializes in pharmaceutical products based on blood plasma, sees the takeover cost up to 1.9 billion euros. The Chinese majority shareholder Creat, who has owned Biotest for almost four years, has already sold its stake for 773 million euros to the Spaniards, who have also taken out a shareholder loan of 313 million euros, as has announced the listed Catalan family company. The remaining Biotest shareholders will receive a takeover bid. Grifols plans to expand plasma therapies and accelerate product development. Biotest manufactures drugs for hematology, immunology and critical care medicine. Grifols also makes medicines from blood plasma and specializes in transfusion medicine. Biotest is also attractive because of its 26 plasma centers, in which up to 1.5 million liters of plasma can be obtained per year.

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