Grifols acquires 35% of Aradigm and intensifies presence in USA
The Catalan biotechnology group will market the US pharmaceutical company’s treatment for severe respiratory diseases exclusively around the world.
By Biocat
Grifols has acquired 35% of US-based Aradigm Corporation by purchasing common stock worth $25.7 millions in a capital increase valued at $40.7 millions in total. The Catalan biotechnology group will have the exclusive worldwide license to market the formulations of inhaled ciprofloxacin Pulmaquin™ and Lipoquin™ to treat severe respiratory diseases, including non-cystic fibrosis bronchiectasis, which has just finished phase IIb clinical trials. Phase III trials will begin soon, with Grifols assuming the costs up to $65 millions.
Aradigm has various products under development to treat cystic fibrosis, tularemia (rabbit fever) and anthrax infections.
This transaction will thus allow Grifols to expand their portfolio of drugs in a therapeutic area with significant potential for growth. "Pulmaquin will complement our business with Prolastin®-C," explained Ramon Riera, president of the International Commercial Division at Grifols.
The transaction is expected to close in the second half of 2013, at which time Grifols will designate two people to serve on the Aradigm Board of Directors.
Inauguration of new immunoglobulin plant in California
Mayors of Barcelona and Los Angeles, Xavier Trias and Antonio R. Villarraigosa, together with Victor Grifols and other authorities, inaugurated the new intravenous immunoglobulin purification plant at the company’s industrial complex in Los Angeles in mid-May. The new 9,000-square-meter plant will be devoted exclusively to the purification of intravenous immunoglobulin, one of the most important and widely consumed plasma proteins, which Grifols markets under the brands Flebogamma® and Gamunex®.
Grifols has invested $135 millions in this project and expects to generate more than 200 new jobs directly. The production center will have the capacity to purify 8 million grams of intravenous immunoglobulin per year in the first stage, with the possibility of expanding to 16 million grams in the second phase.
This hemoderivatives company saw turnover of €2,620 millions in 2012, up 46% from 2011, with profit of €256 millions. The United States and Canada account for 63.3% of the company’s turnover.