- The FDA approval received in 2017 allows Grifols to market its Normal Saline solution in 500mL polypropylene bags in the U.S. to mitigate the current shortage of Normal Saline in this market
- This agreement represents an important step to further develop Grifols Hospital Division in the U.S., a key market for the division growth strategy
- The product is manufactured in Grifols' production plant in Murcia (Spain), which currently has a production capacity above 50 million units per year
- Additionally, this agreement opens up new possibilities for future commercialization to expand the existing partnership with Henry Schein
BARCELONA, Spain, March 5, 2018 /PRNewswire/ — Grifols (MCE: GRF, MCE: GRF.P, NASDAQ: GRFS), one of world's top three producers of plasma-derived medicines and a forerunner in the research and development of therapeutic alternatives that drive scientific and social advancements, signed a distribution agreement with Henry Schein (NASDAQ:HSIC). As the world's largest provider of healthcare solutions to office-based dental, animal health and medical practitioners, Henry Schein will market and distribute Grifol's 500mL Normal Saline solution (0.9% Sodium Chloride Injection, USP) in the U.S. market. The company currently manufactures this product in its industrial complex in Murcia (Spain) and received the FDA approval to market this product in the U.S. in 2017.
This agreement has given added momentum to the internationalization process underway of Grifols' Hospital Division, since the United States represents one of the key markets in the growth strategy of this business line.
There is rising demand for this type of solution in the U.S. market and this agreement marks an important step forward to mitigate the current shortage situation and represents for both companies new possibilities of future commercialization for other products manufactured in Grifols' Murcia and Barcelona facilities.
"At Grifols we are proud to help meet the pressing demand for saline product in the U.S. market supporting healthcare professionals and patients in need with high quality products and a reliable service. Our facilities in Spainare fully prepared to fulfill this commitment in partnership with Henry Schein," said Rob Jagt, President of Grifols Hospital Division.
"Henry Schein understands the complexities of the healthcare supply chain, and the demands it faces to quickly respond to the needs of providers and their patients," said Brad Connett, President, U.S. Medical Group, Henry Schein. "By working with Grifols we are pleased to offer a solution that quickly meets our customers' needs during the IV solutions shortage. Together we can leverage our global supply infrastructure and our reach into the healthcare market to ensure those most in need have access to critical medical products such as normal saline."
Henry Schein's global distribution network features 63 warehouses strategically located all over the world, which ship 99.9% of orders the same day, with 99% of orders delivered in two days. This service has been at the cornerstone of the company's commitment to distribution excellence and the reason healthcare professionals can rely on Henry Schein to meet the unique needs of its customers, which include health system physician clinics, surgery centers, oncology centers and urgent care centers.
In 2018, Grifols will continue the expansion of its capacity in its industrial complex in Barcelona (Spain). The expansion includes two new production lines of IV solutions that will enable this plant to add production capacity by an additional 20 million units to meet the increasing market demand for this type of product.
Both production plants in Murcia and Barcelona are accredited by the FDA, among other regulating bodies.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a health solutions network powered by people and technology. With more than 22,000 Team Schein Members serving more than 1 million customers globally, the Company is the world's largest provider of Business, Clinical, Technology, and Supply Chain solutions to enhance the efficiency of office-based dental, animal health, and medical practitioners. The Company also serves dental laboratories, government and institutional health care clinics, and other alternate care sites.
A Fortune 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein's network of trusted advisors provides health care professionals with the valued solutions they need to improve operational success and clinical outcomes. The Company offers customers exclusive, innovative products and solutions, including practice management software, e-commerce solutions, specialty and surgical products, as well as a broad range of financial services. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 34 countries. The company's sales reached a record $12.5 billion in 2017, and have grown at a compound annual rate of approximately 15 percent since Henry Scheinbecame a public company in 1995. For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, and @HenrySchein on Twitter.
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.