Finance
Grifols Approves IPO of Its US Biopharma Business
Published by Global Banking & Finance Review®
Posted on March 24, 2026
2 min readLast updated: March 24, 2026
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Grifols has approved an IPO for its U.S. biopharma arm, floating a minority stake to raise capital, while maintaining majority control and its Spanish listing.
Grifols Approves IPO of US Biopharma Business to Raise Capital and Cut Debt
Grifols' Strategic Move to Strengthen Financial Position
IPO Approval and Business Structure
March 24 (Reuters) - Spanish drugmaker Grifols said on Tuesday it has approved a U.S. initial public offering of its U.S. biopharma business.
Grifols, which makes drugs using blood plasma, plans to float a minority stake in the biopharma business. The parent company will maintain its listing in Spain and retain majority ownership of the U.S. business.
Vision for Self-Sufficiency
"The transaction reinforces Grifols' vision of self-sufficiency by creating the first and only player that will not rely on plasma, manufacturing or supply from outside the United States," Grifols said.
Financial Goals and Market Expansion
Capital Raising and Debt Reduction
The sale of stake through the IPO would raise capital to strengthen its balance sheet, cut debt and support investments in key markets, it added.
Earnings Growth Outlook
Grifols said in February it expects core earnings to grow by more than a quarter in 2026 and will continue to cut debt, after reporting 2025 profit that more than doubled.
Plasma and Diagnostics Business Growth
The group will continue to grow its plasma and diagnostics businesses in other key markets, it added on Tuesday.
(Reporting by Fabiola Arámburo in Mexico City; Editing by Alan Barona and Shailesh Kuber)
Key Takeaways
- •Grifols plans to spin off a minority stake via U.S. IPO, reinforcing its ambition for U.S. biopharma autonomy.
- •The proceeds are expected to bolster the balance sheet, reduce debt, and support strategic investments.
- •In 2025, Grifols more than doubled its net profit and reduced its leverage ratio, setting a strong financial backdrop for the IPO.
Frequently Asked Questions about Grifols approves IPO of its US biopharma business
1What has Grifols approved regarding its US biopharma business?
Grifols has approved a U.S. initial public offering (IPO) of its US biopharma business.
2Will Grifols retain ownership of its US biopharma unit after the IPO?
Yes, Grifols will retain majority ownership of the US biopharma business after the IPO.
3What is the purpose of the Grifols US biopharma IPO?
The IPO aims to raise capital to strengthen the balance sheet, cut debt, and support investments in key markets.
4Will Grifols maintain its stock listing in Spain?
Yes, the parent company Grifols will maintain its listing in Spain.
5How does this move align with Grifols' business strategy?
The IPO reinforces Grifols' vision of self-sufficiency and supports growth in core markets.
