The CEO of Grifols S.A. said Monday evening that his Spanish company’s acquisition of Talecris Biotherapeutics would likely result in minimal job cuts.

Victor Grifols Roura said he expects the total number of jobs eliminated to be less than 5 percent of the 8,500 people Grifols now employs in the U.S. after acquiring Talecris.

“Talecris is a very efficient company,” Grifols said. “We are not coming here with a sword.”

How many of those job cuts might occur in the Triangle, where Talecris employs more than 2,000 people, is unclear.

Grifols has operations in Los Angeles and the merger will create some redundant positions.

But Grifols said his team is interested in keeping the best employees, no matter if they are located in Los Angeles or the Triangle. He said Grifols will maintain a large executive presence in the Triangle.

“I don’t care if they live here or in Los Angeles,” he said.

Grifols, the Spanish company that recently completed its acquisition of Talecris Biotherapeutics, announced today a new board of directors for its U.S. operations.

Gregory Rich, who has served as CEO of Grifols U.S. operations since 2003, will oversee Talecris' operations in the Triangle, which include a massive blood plasma plant in Clayton and corporate offices in Research Triangle Park.

Thomas Glanzmann was named chairman of the U.S. board. He will also oversee the integration of Talecris into Grifols.

Glanzmann was previously president and CEO of Gambro, which manufactures and supplies products and therapies for kidney and liver dialysis, and other therapies.

He stepped down as CEO earlier this year.
 

Maybe it has something to do with the time difference in Europe.

On Friday, Spain's Grifols issued a press release confirming that on Wednesday it completed its $4 billion acquisition of Talecris Biotherapeutics. Employees, Wall Street investors and just about anyone else who cared, of course, knew it was a done deal two days ago.

Next week, CEO Victor Grifols is scheduled to visit the Triangle to meet with his newest employees: Talecris' more than 2,000 local workers. They'll be eager to hear his plans to combine the companies. The acquisition is expected to spur job cuts, as Grifols consolidates operations to boost profits.

There's some consolation. Most Talecris employees received shares in the company's Sept. 2009 initial public offering, when the stock started trading at $19.

Spain's Grifols announced this morning that it has won U.S. antitrust approval for its $4 billion purchase of Talecris Biotherapeutics, after agreeing to sell some assets.

The takeover of Talecris, based in Research Triangle Park, is expected to close today. The deal was first announced a year ago.

Talecris employs more than 2,000 people in the Triangle, and Grifols is expected to cut costs as its integrates the two companies. Any job cuts will likely hit harder at Talecris' RTP headquarters, and not at its massive drug-manufacturing facility in Clayton.

Grifols and Talecris make medicine from blood plasma, used to treat a wide range of diseases, including hemophilia and various immune system deficiencies. Buying Talecris gives Grifols, which has a large share of the market in Europe, a stronger foothold in North America.

Talecris Biotherapeutics' $4 billion takeover by Grifols SA of Spain has won tentative approval from U.S. antitrust regulators, after the companies agreed to sell some assets.

Company officials have been in negotiations for months with the U.S. Federal Trade Commission, which wants to ensure the deal doesn't lead to higher prices for specialized drugs made from blood plasma.

Under a consent agreement with the FTC announced this morning, the companies agreed to sell Talecris' plant in Melville, N.Y., a division that makes a plasma-derived drug to treat hemophilia and two plasma collection centers.

The deal, first announced in June, creates a new corporate parent for Talecris, North Carolina's largest biotechnology company. Based in Research Triangle Park, Talecris employs more than 2,200 people in the Triangle, mostly at a massive drug factory in Clayton.

Talecris Biotherapeutics, which is awaiting word from U.S. antitrust regulators on its $4 billion takeover by a Spanish company, reported stronger quarterly results.

Revenue, mostly sales of drugs made from blood plasma that treat autoimmune diseases and other ailments, rose to $406.7 million, up 7 percent from a year ago.

Net income excluding some charges was $58.5 million, up 29 percent.

Talecris is the Triangle's largest biotechnology company and employs more than 2,200 people locally, mostly at a Clayton drug factory and its Research Triangle Park headquarters.

The head of Spain's Grifols is optimistic his company's $4 billion takeover of Talecris Biotherapeutics will win approval from U.S. antitrust regulators.

Grifols and Talecris, which is based in Research Triangle Park, both make medicines from blood plasma. The Federal Trade Commission is reviewing the proposed union to make sure it doesn't lead to higher prices for such drugs. The FTC blocked an earlier Talecris takeover by an Australian company because of antitrust concerns.

“I have in my bag $4 billion sitting and waiting to be invested,” CEO Victor Grifols said at an event in Madrid, Bloomberg News reported. “I don’t know when we’ll receive the green light from the FTC. I’m sure we’ll get it, but it’s a very long process. As soon as we get approval we are going to invest it.”

Grifols and Talecris have extended the deadline for their deal to June 30, which would be more than a year after it was announced.

The fact that Grifols' CEO is discussing it suggests an FTC decision could be coming soon.

The Spanish company seeking to buy Talecris Biotherapeutics for about $4 billion has again extended the deadline for the deal, as officials continue to negotiate with U.S. antitrust regulators.

Grifols and Talecris announced this morning they pushed back the pending date to June 30, more than a year after the proposed merger was announced.

The companies, which initially expected to complete the deal by the end of 2010, previously postponed the date to March 6. Shareholders with Talecris, which is based in Research Triangle Park, approved the deal on Feb. 14.

Both companies produce medicines made from blood plasma. The Federal Trade Commission is reviewing the union to make sure it doesn't lead to higher prices for such drugs.

Talecris Biotherapeutics reported solid fourth quarter earnings today as it awaits word on whether federal regulators will approve its $4 billion buyout by Grifols of Spain.

Talecris reported fourth-quarter revenue of $410.8 million, up 5.3 percent from the same period last year. Net income rose 19 percent to $68.5 million.

For the year, Talecris had revenue of $1.6 billion, up 4.5 percent from the prior year.

Last week, Talecris shareholders approved the deal with Grifols.

It won't close before March 21, and the deadline could be extended further.

The Federal Trade Commission is reviewing the deal to make sure it doesn't hurt consumers or lead to higher prices for medicines made from blood plasma.

Talecris Biotherapeutics shareholders approved the company’s proposed $4 billion takeover by of Spain this afternoon, but the deal still needs approval from U.S. antitrust regulators.

During a meeting at the Research Triangle Park Marriott, shareholders owning 85 percent of Talecris’ outstanding common stock voted in favor of the deal.

Grifols acquisition of Talecris won’t close before March 21, and Talecris CEO Larry Stern told shareholders that the deadline could be extended further.

“There can be no assurance that Grifols will reach resolution with the [Federal Trade Commission] by March 20, 2011,” Stern said.

“Certainly, however, the FTC, Grifols and we would not be engaging in discussions and extending the timeline if we did not believe that these discussions were worthwhile. We remain optimistic that Grifols will ultimately reach resolution with the FTC.”

Grifols announced in June its plan to buy Talecris, which is based in Research Triangle Park and is North Carolina’s largest biotechnology company.