Grifols said its board held an extraordinary meeting over the weekend to study a preliminary offer presented by Brookfield and the founding family, which has a nearly 30% stake.
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Grifols last week published its 2023 results, pending an audit, which analysts said contributed to the share price’s tumbling along with doubts about its cash flow for 2024.
Today the Spanish drugmaker lifted its 2023 margin outlook after reporting sturdy growth in first-quarter core earnings and revenue as cost-cutting measures took effect and supply of plasma blood used in its medicines recovered.
Steven F. Mayer has resigned as executive chairman of the board of Spanish pharmaceutical company Grifols, the company said on Tuesday, citing health and other personal reasons.
Through the job cuts and other cost-saving measures, Grifols aims to save approximately $428 million USD in 2023, relative to comparative full-year 2022 costs, according to the company.
Grifols appointed an executive chairman on Monday, as the Spanish pharmaceutical company strives to recover from a pandemic-related hit and a 49% drop in its shares so far this year.