Grifols spending $460 million on plasma facilities

Spanish plasma-derived medicines company Grifols (GRF: MC) today announced it has executed purchase arrangements with the South Korean-based GC Pharma (KRX: 0062800; formerly known as Green Cross Corporation) whereby Grifols will acquire the Montreal, Canada-based plasma fractionation facility and two purification facilities, along with 11 USA-based plasma collection centers.

Grifols will pay a total amount of $460 million for the acquisition, with the news pushing the shares of GC Pharma up 16.8% to 218,500 Korean won by close of trading today, while the Spanish firm’s stock gained 2.56% to 27.64 by early afternoon. The completion of the transaction is subject to regulatory approvals and is expected to close prior to the end of 2020.

Building on a legacy of partnership in Canada's blood system