7 February 2022
Bio Products Laboratory (“BPL”) issues an update on its financial results and operational highlights for the 12 months ended 31 December 2021, including the more recent developments since first half trading update issued in July.
BPL is a vertically integrated manufacturer of plasma-derived therapies headquartered in Elstree, UK. BPL consists of two divisions, BPL Plasma, based in Texas, which collects plasma from 28 centres across the US, and BPL Therapeutics in the UK, which manufactures high-quality products.
On 20 January 2022, BPL announced that funds advised by Permira, the global private equity firm, have entered into a partnership with Kedrion’s existing shareholders to jointly acquire and combine Kedrion, a leading global plasma fractionator based in Italy, and BPL. Both Kedrion and BPL have a long history as pioneers in developing life-saving medicines to help patients globally with compromised immune systems and bleeding disorders or for acute care needs.
Second Half Highlights:
- BPL Therapeutics sales grew +15% year-on-year sales compared with the final 6 months of 2020, driven by increased shipments of Gammaplex®, our albumin products and Coagadex®.
- Granted licence from the National Medical Products Administration (NMPA) to market Albuminex® 25% product to China and signed a distribution agreement to enable BPL access to largest albumin market in the world. BPL is preparing for a commercial launch in market in 2022.
- First ever direct sale for BPL in Mexico as part of an important albumin supply award. This represents an important first step in BPL’s plans to grow its presence in this market.
- Plasma collection volumes (on a like-for-like basis), showed signs of improvement, growing 24% versus the first half of the year.
- Opened 2 new plasma collection centres in the US, bringing fleet total to 28 centres, with the development of several more centres currently well underway.
Full Year Highlights:
- Robust +16% 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 all three business regions: US (+14%) UK (+23%) and Intercontinental (+31%).
- Strong demand and sales of Gammaplex®, Coagadex®, and albumin products.
- Gammaplex® in the key US market hit 4 million grams sold for the year, a significant milestone in the company’s history.
- Launched a strategic $31m (£23m) investment in a new Sterile Filling Suite at the Elstree site. The 1,000m2 state-of-the-art suite currently being built will support the increasing global need for specialised plasma-derived medicinal products.
- Completed in February the sale of 25 US plasma centres to Grifols for $370m (£265m), allowing a strategic refocus on its remaining resources and internal supply needs.
- BPL Plasma reinitiated its ‘New Centre Development’ efforts by opening two new plasma centres in the US to support the medium and long-term needs of the business, an effort that will accelerate in 2022.
David Gao, BPL’s Vice Chairman & Chief Executive Officer, commented, “In 2021, BPL has hit some key historic milestones in the US and is readying its launch of Albuminex in China. I want to thank our worldwide team for their focused delivery of our business targets and their commitment to the well-being of donors and patients we serve.
Looking forward, I am confident that the business is well-positioned to continue to deliver strong growth across all three regions in the short and long term.”
Michael Mensa, BPL’s President and Chief Financial Officer, said, “Our preliminary 2021 financial results are a demonstration of BPL’s ongoing growth trajectory and a true testament of the resilience of our team and our business model, overcoming the negative effects that COVID-19 continues to have on our operations. The business is on a solid footing as it starts 2022 and looks ahead to the new era that the sale of BPL to investors led by Permira, and the combination with Kedrion will bring.”
Donna Mitchell, BPL Communications Manager
About Bio Products Laboratory (BPL)
Recognising the importance of plasma and with many years of experience in the industry, BPL supplies high-quality plasma derived medicines to meet the needs of clinicians, patients and customers globally. Headquartered in the United Kingdom, with US offices in Durham, NC, and plasma collection centres across the United States, we are dedicated to producing medicines for the treatment of immune deficiencies, bleeding disorders and infectious diseases as well for critical care. BPL invests in the latest R&D, technology and manufacturing methods, and continuously adapts to ensure that we continue to serve all our stakeholders effectively. For more information visit www.bplgroup.com or www.bpl-us.com.
BPL consists of two operating divisions — BPL Plasma and BPL Therapeutics. BPL Plasma, headquartered in Austin, Texas and operating in the USA, collects plasma from donors in around 28 centers across the U.S. BPL Plasma employs over 900 staff to support the needs of donors and to ensure high-quality plasma collection in all their centers. Plasma collection is regulated by both FDA and MHRA, and BPL Plasma follows industry guidelines. BPL Plasma operates clean and safe plasma facilities, staffed with trained personnel, dedicated to supporting donors through the process that leads to the donation of plasma. Plasma is shipped to the headquarters of BPL Therapeutics in Elstree, United Kingdom. The plasma is fractionated, purified, and filled through the efforts of our over 1,000 employees involved in production, quality, R&D, commercial, customer services, and administrative activities. BPL’s plasma-derived medicines are commercially available in the U.K., USA, and 30 plus other countries around the world through our network of local affiliates and distribution partners.