Grifols' board has approved preparing a public offering (OPV) of a minority stake in its US Biopharma business to reduce debt and fund growth. The company will retain majority control and continue listing in Spain. Its ADRs surged up to 13% in after-hours trading.
Grifols announced on Tuesday, March 24, 2026, that its board of directors has initiated the process for a public offering (OPV) of a minority stake in its US Biopharma business. The move aims to raise capital to strengthen the balance sheet, reduce debt, and support investments in strategic growth priorities, according to a company statement to Spain's Comisión Nacional del Mercado de Valores (CNMV). Grifols will retain majority ownership and confirms it will continue listing on Spain's continuous market regardless of whether the OPV proceeds. After the transaction, US Biopharma will have its own board, management team, and corporate governance structure. The company stated this setup will allow it to 'operate with a clear strategic focus, tailored governance, and the agility needed to compete and grow as a US-listed company.' The business runs a fully self-sufficient model in the US, with nearly 300 donation centers across 40 states, manufacturing plants in California and North Carolina, and over 14,000 employees. It accounts for more than half of Grifols' revenues, generating 4.253 billion euros in the US and Canada (up 7.4%), out of total revenues of 7.524 billion euros. Markets reacted positively: ADRs rose up to 13% in Nasdaq after-hours trading, following a 1.17% drop in the regular session. Grifols is advancing self-sufficiency in other markets, such as Egypt—EMA-certified in 2025—and Canada, with a new fractionation plant in Montreal planned for 2028. Grifols' Minority Shareholders Association (AMG) welcomed the news, saying it will benefit investors. The decision follows challenges since 2024, with CEO Nacho Abia driving a plan for 10 billion euros in revenues by 2029.
