Grifols

Grifols (MCE: GRF) is a global healthcare company that treats conditions across a broad range of therapeutic areas. The company gained popularity due to its industrial experience and advanced machinery, achieving global leadership in the development of plasma-derived medicines and transfusion medicine solutions. Grifols was originally founded in 1909 as a small, family-run clinical analysis laboratory in Barcelona, and its first international expansion was into Portugal in 1988. Grifols has been listed on the Spanish stock exchange since 2006, and it generated total revenue of EUR 6.1 billion (~USD 6.7 billion) in 2022.

Grifols’ primary reporting segment Biopharma (~83% of total revenue in 2022) focuses on the development of medicines from plasma to treat patients with chronic and rare diseases. Its key treatment areas include immunology, hepatology, pulmonology, and neurology. Diagnostic (~11%) consists of a variety of transfusion medicine products and specialized clinical diagnostics to detect and treat infectious diseases. The smaller Bio Supplies (2%) segment comprises high-quality biological materials focusing on specialty areas: Biopharma and Diagnostic. Grifols also provides other healthcare solutions for hospitals to improve patient care.

Grifols had more than 390 plasma donation centers and 16 manufacturing sites as of December 2023. The US and Canada are Grifols’ largest markets, accounting for ~64% of total revenue (2022). The EU (excluding Spain) was the second-largest market, which accounted for ~12% of total revenue in 2022, where Spain made up ~5% of total revenue. Grifols announced a 2023 revenue growth target of 10%–12% for its primary Biopharma segment (~10.1% YoY in 2022 in constant currency excluding Biotest) and expects it to be the key contributor to medium-term earnings. It expects to reduce greenhouse gas (GHG) emissions per unit of production by ~55% in 2030 (from a 2022 baseline).