Grifols: FDA's decision on plasma boosts share price
(CercleFinance.com) - The share of Grifols, the world leader in plasma drugs, is one of the sharpest risers on Monday on the Madrid Stock Exchange following a favourable decision by the FDA.
Yesterday the US FDA announced that it has granted emergency approval for the use of blood plasma from convalescent patients to treat hospitalised Covid-19 patients.
In a statement, the FDA stated that available scientific literature shows that the efficacy of this product more than offsets the risks associated with its use.
Despite the coronavirus crisis, the share of the Barcelona based healthcare company has fallen by over 23% in the stockmarket YTD, mainly due to financial results that fell short of market expectations.
Invest Securities analysts - who have a buy rating on the share - nevertheless highlight the Spanish group's robust business model.
Its current valuation, which has returned to the lowest point of the Covid-19 crisis, represents an interesting entry point - particularly as its long-term fundamentals are solid, the Parisian broker says.
The Grifols share is currently up around 3%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Yesterday the US FDA announced that it has granted emergency approval for the use of blood plasma from convalescent patients to treat hospitalised Covid-19 patients.
In a statement, the FDA stated that available scientific literature shows that the efficacy of this product more than offsets the risks associated with its use.
Despite the coronavirus crisis, the share of the Barcelona based healthcare company has fallen by over 23% in the stockmarket YTD, mainly due to financial results that fell short of market expectations.
Invest Securities analysts - who have a buy rating on the share - nevertheless highlight the Spanish group's robust business model.
Its current valuation, which has returned to the lowest point of the Covid-19 crisis, represents an interesting entry point - particularly as its long-term fundamentals are solid, the Parisian broker says.
The Grifols share is currently up around 3%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.