Grifols Strengthens Position as Global Provider of Diagnostic Testing Solutions with Five-Year Extension of OraSure Technologies Agreement and a New Manufacturing Facility
- Longstanding relationship between companies fortified by multi-year contract extension
- Grifols is currently building an $80 million manufacturing facility that will optimize production and expand capacity
EMERYVILLE, Calif., April 24, 2017 /PRNewswire/ -- Grifols (MCE: GRF, MCE: GRF.P andNASDAQ: GRFS), a global healthcare company with a history of more than 75 years of improving people's health and well-being and a leader in the development of innovative diagnostic solutions, announces that it has restated its 2005 agreement with OraSure Technologies ("OraSure"), a leader in point-of-care diagnostic tests.
Under terms of the agreement, Grifols, a worldwide provider of recombinant antigens for HCV, HIV, and HBV diagnostic tests, supplies antigens for OraSure's OraQuick HCV Rapid Antibody Test. The test is FDA approved for qualitatively detecting hepatitis C virus antibodies in whole blood obtained through the use of a fingerstick or venipuncture. It enables healthcare providers to deliver results in 20 minutes from individuals 15 years of age and older.
"OraSure is committed to delivering high-quality infectious disease diagnostic products for our customers. As one of our trusted suppliers, Grifols' focus on service, quality and collaboration play a key role in our ongoing relationship," said Douglas A. Michels, President and CEO of OraSure Technologies.
OraSure's decision to extend its agreement reaffirms Grifols' value as an experienced and reliable supplier of high-quality diagnostic antigens. It highlights Grifols' ongoing commitment to build long-term relationships with diagnostic partners, and to develop, manufacture and supply these materials to support the improvement of innovative diagnostic assays.
"OraSure is a valued customer that shares our commitment to developing breakthrough diagnostic solutions to ensure the safest, most effective care for patients," said Vice President and General Manager of Grifols Diagnostic Solutions, Ramon Biosca. "We are very excited to continue this important relationship."
As part of Grifols' investment for future growth and to meet a global demand, the company is currently building an $80 million, state-of-the-art, biological manufacturing facility in the San Francisco Bay Area. Grifols is in the process of validating the facility and preparing to file a license with the US Food and Drug Administration certifying proper design, monitoring, and control of manufacturing processes and facilities. The facility will provide long-term, high-quality commercial manufacturing for a developing product selection of diagnostic antigens, including proteins expressed in E. coli, yeast and mammalian cells.
"Grifols' expanded manufacturing capabilities will allow us to continue to meet the demand for our growing portfolio of specialized diagnostics reagents. With strong partnerships, such as the one we share with OraSure, and our commitment to invest in our Diagnostic Division, we are well positioned to further strengthen our abilities to provide effective, high- quality antigens to a global community," said Biosca. The new Grifols manufacturing facility is expected to be completed in 2018.
About OraSure Technologies
OraSure Technologies is a leader in the development, manufacture and distribution of point of care diagnostic and collection devices and other technologies designed to detect or diagnose critical medical conditions. Its first-to-market, innovative products include rapid tests for the detection of antibodies to HIV and HCV on the OraQuick® platform, oral fluid sample collection, stabilization and preparation products for molecular diagnostic applications, and oral fluid laboratory tests for detecting various drugs of abuse. OraSure's portfolio of products is sold globally to various clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations, research and academic institutions, distributors, government agencies, physicians' offices, commercial and industrial entities and consumers. The Company's products enable healthcare providers to deliver critical information to patients, empowering them to make decisions to improve and protect their health.
For more information on OraSure Technologies, please visit www.orasure.com.
About Grifols
Grifols is a global healthcare company with a more than 75-year legacy of improving people's health and well-being through the development of protein therapies, hospital pharmacy products and diagnostic technology for clinical use.
The company is present in more than 100 countries worldwide with its headquarters located in Barcelona, Spain. Grifols is a leader in plasma collection with a network of more than 170 plasma donation centers in the U.S., and is a leading producer of plasma-derived medicines. As a recognized leader in transfusion medicine, Grifols offers a comprehensive range of transfusion medicine, hemostasis, and immunoassay solutions for clinical laboratories, blood banks, and transfusion centers.
In 2016, sales exceeded 4,000 million euros with close to 15,000 employees. Grifols demonstrates its commitment to advancing healthcare by allocating a significant portion of its annual income to R&D.
The company's class A shares are listed on the Spanish Stock Exchange, where they are part of the Ibex-35 (MCE: GRF). Its non-voting class B shares are listed on the Mercado Continuo (MCE: GRF.P) and on the U.S. NASDAQ via ADRs (NASDAQ: GRFS). For more information visit grifols.com.
LEGAL DISCLAIMER
The facts and figures contained in this report that do not refer to historical data are "future projections and assumptions". Words and expressions such as "believe", "hope", "anticipate", "predict", "expect", "intend", "should", "will seek to achieve", "it is estimated", "future" and similar expressions, in so far as they relate to the Grifols group, are used to identify future projections and assumptions. These expressions reflect the assumptions, hypotheses, expectations and predictions of the management team at the time of writing this report, and these are subject to a number of factors that mean that the actual results may be materially different. The future results of the Grifols group could be affected by events relating to its own activities, such as a shortage of supplies of raw materials for the manufacture of its products, the appearance of competitor products on the market, or changes to the regulatory framework of the markets in which it operates, among others. At the date of compiling this report, the Grifols group has adopted the necessary measures to mitigate the potential impact of these events. Grifols, S.A. does not accept any obligation to publicly report, revise or update future projections or assumptions to adapt them to events or circumstances subsequent to the date of writing this report, except where expressly required by the applicable legislation. This document does not constitute an offer or invitation to buy or subscribe shares in accordance with the provisions of the following Spanish legislation: Royal Legislative Decree 4/2015, of 23 October, approving recast text of Securities Market Law; Royal Decree Law 5/2005, of 11 March and/or Royal Decree 1310/2005, of 4 November, and any regulations developing this legislation. In addition, this document does not constitute an offer of purchase, sale or exchange, or a request for an offer of purchase, sale or exchange of securities, or a request for any vote or approval in any other jurisdiction. The information included in this document has not been verified nor reviewed by the external auditors of the Grifols Group.
DG/GRI/0317/0006
SOURCE Grifols
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