Grifols: posts 'solid' first-quarter growth on strong demand

(CercleFinance.com) - Grifols, the Spanish blood products maker, said that it has delivered "solid" growth in the first quarter, with revenues up 13% at 1.
15 billion euros helped by strong demand for plasma-derived products

However, the Barcelona-based drug company saw its net profit for the three months to March fall to 114 million euros, hit by non-recurrent expenses due to corporate transactions and higher financial costs.

The company, which makes immunoglobulin and albumin to treat auto-immune disorders, said its R&D investment grew by 21.5% to 89.3 million euros, now representing 7.7% of revenues.

Grifols - which recently signed a strategic alliance with Shanghai RAAS to promote the sale of its products in China - said the strategic investments are designed to expand plasma supply, and to reinforce its position as an industry leader.

At midday on Tuesday, Grifols shares were up 2.5%, having risen by 9% year-to-date.

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