July 23, 2021
Bio Products Laboratory (“BPL”) issues an update on its financial results and operational highlights for the six months ending 30 June 2021. BPL is a vertically integrated manufacturer of plasma-derived medicinal products headquartered in Elstree, UK. BPL consists of two divisions, BPL Plasma, based in Texas, which collects plasma from 26 centres across the US, and BPL Therapeutics in the UK, which manufactures high-quality products.
1st Half Highlights:
- Robust +18% year-on-year sales growth in BPL Therapeutics compared with the same period last year, building on +22% growth of sales for FY 2020.
- Record sales in the US and double-digit growth in its UK and Intercontinental regions. Strong demand and supply of Gammaplex®, Coagadex®, and Albumin.
- Started strategic $31m (£23m) investment in a new Sterile Filling Suite at the Elstree site. The 1,000m2 state-of-the-art suite will be built to support the increasing global need for specialised plasma-derived medicinal products.
- Announced a long-term collaboration with Atlantic Research Group (a Contract Research Organisation based in Virginia, US) to conduct clinical trials and support BPL’s new product development programs globally.
- Completion of sale of 25 US plasma centres to Grifols for $370m (£265m), allowing a strategic re-focus of the remaining plasma business on its internal supply needs.
- BPL Plasma reinitiated earlier this year its New Center Development efforts to support the medium and long-term needs of the business, targeting the opening of three new centres by the end of 2021 and several more centres in 2022.
David Gao, BPL’s Vice Chairman & Chief Executive Officer, commented:
“I am delighted with our performance in the first half of the year, and I would like to thank all of our employees for the part they play in helping BPL deliver on our long-term strategic goals.
Although Covid-19 continues to affect our business and the global economy, as we enter the second half of the year, I am confident that we are well-positioned to continue delivering strong growth in the long term, underpinned by the strength of our business, increasing demand for our products and the growth of the global plasma market.”
Michael Mensa, BPL’s President and Chief Financial Officer, said:
“I am very pleased with our better-than-expected financial performance for BPL in the first half of this year, and the momentum we have as a company as we look forward. The continued success of our products globally and our execution focus in delivering for our customers are key to our success. It is promising to see that US plasma collections are now showing signs of recovery from their Covid-19 depressed levels, as we enter the second half of the year.”
Donna Mitchell, BPL Communications Manager: Donna.Mitchell@bpl.co.uk