Biotest AG / Key word(s): Alliance
Biotest AG: Biotest and Grifols further strengthen their cooperation – EBIT forecast 2023 significantly raised
28-Apr-2023 / 10:04 CET/CEST
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Biotest and Grifols further strengthen their cooperation – EBIT forecast 2023 significantly raised
Dreieich, 28 April 2023. The Supervisory Board approved the signing and execution of several agreements by the Board of Management to further strengthen the cooperation between Grifols S.A. and Biotest AG in research & development, manufacturing, operations as well as sales and distribution.
A Technology Transfer Agreement and a License Agreement will ensure that the new product developments of Biotest will be manufactured and commercialized worldwide by also using the organization and facilities of Grifols. A payment for the transferred technology and later royalty payments depending on net sales of the licensed products were agreed as consideration. The payment for the technology will have a positive effect on the EBIT of Biotest in a triple-digit million range.
The Board of Management raises the EBIT guidance for 2023 given in March 2023 from € -15 to -20 million to a level that can possibly exceed € 100 million. A more specific statement is subject to revenue recognition considerations regarding final project milestones.
This document contains forward-looking statements on the overall economic development and the business, earnings, financial and asset situation of Biotest AG and its subsidiaries. These statements are based on the company’s current plans, estimates, forecasts and expectations and are therefore subject to risks and uncertainties that could cause actual developments to differ materially from those anticipated. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and does not assume any obligation to do so.
Biotest is a provider of plasma proteins and biological drugs. With a value added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialised primarily in the areas of clinical immunology, haematology and intensive care medicine. Biotest develops and markets immunoglobulins, coagulation factors and albumin based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. Biotest has more than 2,300 employees worldwide. The ordinary and preference shares of Biotest AG are listed in the Prime Standard on the German stock exchange. Since May 2022, Biotest is part of the Grifols Group, Barcelona, Spain (www.grifols.com).
Dr Monika Buttkereit
Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com
Ordinary shares: securities’ ID No. 522720; ISIN DE0005227201
Preference shares: securities’ ID No. 522723; ISIN DE0005227235
Listing: Frankfurt (Prime Standard)
Open Market: Berlin, Düsseldorf, Hamburg/ Hanover, Munich, Stuttgart, Tradegate
End of Inside Information
28-Apr-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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