Grifols reaches an agreement with Boya Bio-Pharmaceutical to open plasma collection centers in China
- Boya Bio-Pharmaceutical is the leading producer of plasma-derived medicines in China. The agreement includes the construction and management of a significant number of plasma collection centers in China.
- All of the centers will meet Grifols' strict quality control standards, as well as the criteria established by the health authorities of China, the United States and the European Union.
- The initial investment for the project is Euros 50 million.
- The plasma collected from these centers will be supplied to Boya Bio-Pharmaceutical, although Grifols will be able to access up to 50% of this plasma when the applicable Chinese legislation allows.
- This long-term project supports Grifols' corporate strategy of expanding and diversifying its network of plasma collection centers to guarantee the future supply of its main raw material
- Grifols continues its investment plans to open new centers. The group leads the industry in plasma collection centers, with 190 centers in the U.S. and 35 in Europe1.
Barcelona (Spain), May 10, 2018.- Grifols (MCE:GRF, MCE:GRF.P, NASDAQ:GRFS), one of the top three global producers of plasma-derived medicines used in the treatment of rare and chronic diseases, and Boya Bio-Pharmaceutical (SHE: CN: 300294), a leading Chinese company specialized in the production of plasma-derived products, have entered into a Master Shareholders Agreement (MSA) for the construction and management of a significant number of plasma collection centers in the People's Republic of China (PRC).
Under the agreement, the plasma collection centers will be built and managed in adherence to the criteria established by the health authorities of the United States (U.S. Food and Drug Administration), the European Union (European Medicines Agency) and China (China Food and Drug Administration and National Health and Family Planning Commission), among others.
The agreement furthermore includes an Engineering and Collaboration Services Agreement on the part of Grifols, which will bring its experience and know-how to build and manage the plasma collection centers, ensuring the same high standards of quality as in all of the centers that Grifols operates.
The initial investment to implement the project amounts to EUR 50 million and Grifols will control 50% of the decision-making and economic rights of the project.
In accordance with the applicable Chinese legislation, all of the plasma obtained in these centers will be supplied to Boya Bio-Pharmaceutical, although Grifols reserves the right to access 50% of the collected plasma when the applicable legislation allows.
The project will enable Grifols to reinforce its long-term strategy of increasing its access to plasma through geographic diversification to meet the increasing demand for plasma-derived therapies.
Currently, Grifols leads the industry in plasma collection centers, with 190 centers in the U.S. and 35 in Europe1, a 50% increase from the start of the expansion plan in 2015. The group continues its investment plans to open new centers.
In 2017, Grifols obtained more than 9 million liters of plasma to produce its broad portfolio of plasma-derived medicines, which it markets in over 100 countries. Among the main plasma proteins used for therapeutic purposes are immunoglobulins, to treat immunological disorders, including certain neurological diseases; albumin, to restore and maintain circulatory volume, as well as to treat liver diseases; factor VIII, for the treatment and prophylaxis of hemophilia; and alpha-1 antitrypsin, to protect against lung tissue damage (pulmonary emphysema).
1Acquisition of European centers subject to approval by the German Competition Authority.
Grifols reaches an agreement with Boya Bio-Pharmaceutical to open plasma collection centers in China Download (285.40 Kb)