GRFS - Grifols inks 15-year deal with Canada for plasma-derived therapies

• Spanish biotech Grifols, S.A. ( NASDAQ: GRFS ) ( OTCPK:GIKLY ) ( OTCPK:GIFLF ) announced a long-term agreement with Canada's national blood authority on Wednesday to raise the availability of immunoglobulin (Ig) medicines and plasma-protein therapies in the country.
• Under the 15-year deal, which includes options to renew, the company will work with Canadian Blood Services to increase blood plasma sourcing in the country to expand Ig medicine volumes to 2.4M grams annually by 2026.
• The production will take place at GRFS' manufacturing site in Clayton , N.C., until the company's state-of-the-art Montreal plant starts operations in 2024, ahead of plans to become fully operational around 2026.
• While American Depository Shares of GRFS have plunged ~46% this year, Seeking Alpha contributor Mare Evidence Lab sticks to the Bullish thesis.

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