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Grifols buys the pharmaceutical company Tiancheng for 1.1 billion

Barcelona, ​​Sep 17 (EFE) .- Grifols has agreed to acquire the entire share capital of Tiancheng Pharmaceutical Holding for 1,100 million euros, which owns 90% of the ordinary shares and 1% of the preferred shares of the German company Biotest.

As Grifols reported this Friday to the National Securities Market Commission (CNMV), Tiancheng is a firm specialized in hematology and innovative clinical immunology with an attractive R&D pipeline, which includes new plasma proteins, which complement the portfolio of Grifols products. The operation values ​​Biotest (Equity Value) at 1,600 million euros.

Parallel to the transaction, Grifols launched a public acquisition offer (OPA) to acquire the rest of the ordinary and preferred shares of Biotest in cash.

(c) EFE Agency

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