Grifols shares gain 42.65% since Jan 2011.
M2 PHARMA-July 19, 2011-Grifols shares gain 42.65% since Jan 2011(C)2011 M2 COMMUNICATIONS
19 July 2011 - Spain-based biopharmaceutical group Grifols (MCE: GRF) has gained 42.65% since the beginning of the year and thus became the only firm of the blue-chip index IBEX 35 trading in the black in July.
Yesterday, the company closed with a 1.29% rise to EUR14.55 - its highest price since October 2008. Grifols has won 5.13% so far in July while the index has dipped by 9.77%.
The acquisition of US Talecris Biotherapeutics (NASDAQ:TLCR) for EUR2.8bn (USD3.94bn) made Grifols a relevant international player with a revenue of over EUR2bn. The geographic diversification of the Spanish company was welcomed by the investors. Grifols' business depend only at 10% on the Spanish market, while the USA share in the total revenue will rise to 53% from 34% after the acquisition.
The market consensus is giving a 5% upside potential to Grifols on the Madrid stock exchange, according to data of Bloomberg. Around 60% of the analysts gave "buy" recommendation.
(EUR1 = USD1.408)
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