Spain's Grifols to buy rival Biotest

Sept. 17, 2021

Blood plasma-based product giant Grifols has agreed to buy German rival Biotest in a deal worth about $1.9 billion (1.6 billion euros).

Barcelona-based Grifols said it had agreed with Tiancheng International Investment to buy the company's controlling stake in Biotest for 1.1 billion euros — giving Grifols ownership of Tiancheng Pharmaceutical Holding, the German subsidiary of the Hong Kong-based company.

Grifols has also offered to buy the remaining shares trading on the Frankfurt stock market. 

The move aims to consolidate the limited plasma-based drug industry. The deal will also boost Grifols' capacity to collect plasma, a bottleneck for its development, thanks to Biotest's 26 European plasma centers.

Read the press release