Grifols - 4Q17 - Biosciences division slowdown, but good deleveraging trend
Grifols, the Spanish specialty pharmaceutical company, reported mixed 4Q17 results, marked by disappointing sales figures for the Bioscience division (80% of group sales) but still good profitability and cash generation. Group sales at constant currency were up 3% yoy to €1.07bn (vs. +10% for 9M17), while reported EBITDA increased by 8% to €325m.
Grifols is engaged in developing, manufacturing and distributing a range of plasma derivative products. Plasma derivatives are proteins found in human plasma, which once isolated and purified, have therapeutic value. These protein-based therapies extend the lives of individuals who suffer from chronic and acute conditions. Co. also specializes in providing infusion solutions, nutrition products, medical devices, diagnostic instrumentation and reagents for use in hospitals and clinics. Co.'s products and services are used by healthcare providers in approximately 100 countries. Co.'s business is organized into three divisions: Bioscience, Diagnostic, Hospital and Raw Materials.
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