Reported by Consejeros Editorial Team
Grifols is reorganising its operating model to give its subsidiaries greater autonomy, financial independence and the capacity for self-management. The plan aims to transform these subsidiaries into self-sufficient plasma businesses by improving their control, compliance and financial reporting frameworks. The company will adopt a dual operating model, in which plasma sourced from the US will primarily supply the US market, whilst plasma from the rest of the world will meet demand in Europe and other global markets to reduce dependence on US plasma, which carries higher costs. According to Pablo García, director of Divacons, “the company is seeking to optimise its operating costs, improve regional profitability and strengthen its resilience in the face of geopolitical and regulatory risks”.
To this end, Felipe Palacios will be appointed to head Biopharma US, whilst Thierry Heinrich will remain in charge of the rest of the world (ROW). The current president of Biopharma, Roland Wandeler, will leave the company on 30 September to pursue new professional projects and will support the transition.
According to Ana Gómez Fernández, an analyst at Renta 4, “the reorganisation is consistent with the company’s strategy and messaging in recent months, although Roland Wandeler’s departure is unexpected”.
Pending the completion of this transition, Grifols continues to explore an IPO on Wall Street for its US Biopharma business. At the recent annual general meeting, Grifols’ non-executive chair, Anne Catherine Berner, stated that the IPO would highlight the under-recognised value of the US business.
