September 7, 2018
Grifols and the European Investment Bank sign an Euros 85 million long-term loan to support its R+D+i initiatives
The agreement, signed in Barcelona today by EIB Vice-President Emma Navarro and Grifols' co-CEOs Raimon Grífols Roura and Víctor Grífols Deu
Barcelona, September 7, 2018 - The European Investment Bank (EIB) and Grifols today announced the signing of a new loan agreement for Euros 85 million to advance the firm's R+D+i efforts to discover new therapeutic uses for plasma proteins in the treatment of rare and chronic diseases. The agreement, signed in Barcelona today by EIB Vice-President Emma Navarro and Grifols' co-CEOs Raimon Grífols Roura and Víctor Grífols Deu, is backed by the Investment Plan for Europe.
The loan will support research initiatives that enhance the health and well-being of patients by providing the financial resources necessary to spur innovation in the medical research field in Spain as well as in the rest of the European Union. The agreement will also bolster bioscientific research in the universities, hospitals and research centers that collaborate with Grifols.
The EIB loan represents the third conceded to Grifols under the umbrella the Investment Plan for Europe. In 2015, Grifols was among the first European companies to obtain funding from the Juncker Plan, receiving additional funding at the end of 2017. The Investment Plan for Europe increases the EIB's ability to finance investment projects toward initiatives that, by reason of their nature or structure, boost the innovation and competitiveness of companies operating in the EU.
The loan offers favorable financial conditions, including a fixed interest rate, maturity date in 2028 and a two-year grace period.
During the signing ceremony formalized in Barcelona today, EIB Vice-President Emma Navarro highlighted "the economic and social impact of an agreement that will benefit European citizens by supporting research aimed at finding new treatments for chronic diseases. This loan also underscores the EU bank's solid commitment to providing the necessary resources to support innovation, an essential driver to gain competitiveness and create high-quality employment."
For their part, the co-CEOs of Grifols, Raimon Grífols Roura and Víctor Grífols Deu, highly value the EIB's support and the opportunities it provides. This newly signed loan reinforces the institution's role as a complementary source of financing for Grifols' R+D+i initiatives.
Vytenis Andriukaitis, European Commissioner for Health and Food Safety, said: "I am pleased to see more EFSI financing going to R&D and innovation in the healthcare sector. This loan represents at least a three-fold benefit: new therapies for patients with rare and chronic diseases, yet another boost for R&D, and finally, investment in high-skilled employment".
As a leading innovation company in the global healthcare sector, Grifols channels significant resources toward R+D+i through both in-house and external projects. In this regard, Grifols allocated a total of Euros 141.3 million in R+D+i over the first half of 2018, a 9.3% increase compared to the same period last year. This upward trend is evidence of the company's firm commitment in R+D+i efforts.
The "Juncker Plan" in Spain
The European Fund for Strategic Investments (EFSI) is the main pillar of the "Juncker Plan". According to forecasts, EFSI-funded projects and agreements mobilize more than EUR 335 billion in investments and support roughly 700,000 SMEs across the 28 Member States. Since the Investment Plan for Europe was launched in Spain in 2015, 96 projects have been approved for a financing volume of EUR 7,300 million.
The Investment Plan for Europe, known as the "Juncker Plan," is one of the European Commission's highest priorities, focused on promoting investments that stimulate employment and economic growth through a more intelligent use of new and existing financial resources. At the same time, it works to remove investment obstacles, offer technical assistance and ensure visibility to investment projects. For more information on the results of the Investment Plan for Europe, please click here.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term financing available for sound investments as a means of promoting EU policy goals.