Shares in blood-plasma manufacturer Grifols (Nasdaq: GFRS) which has large operations in RTP and Johnston County, plunged 15 percent Wednesday after the Spain-based company reported revenues and earnings below analysts’ expectations.
Sales of blood plasma products, which is the focus of the Clayton plat, rose more than 3 percent.
Grifols is expanding its North Carolina operations, which it acquired in a $2 billion-plus deal for RTP-based Talecris three years ago. The firm also recently acquired the blood business of Novartis.
However, in its latest earnings report, Grifols reported revenue of $1.09 billion, which was some $20 million below expectations, according to Bloomberg.
Earnings were some 20 percent below expectations.
Analysts at UBS described Grifols’ results as “very weak,” Bloomberg noted.
The 15-percent drop was the biggest in one day in six years, the news service added.
The full earnings report can be read online.