AllBright lawyers as legal counsel advising global healthcare giant Grifols for the incorporation of plasma collection companies jointly with Boya
2018-05-146863On May 9, 2018, Grifols (MCE:GRF, MCE:GRF.P, NASDAQ:GRFS), one of the top three global producers of plasma-derived medicines used in the treatment of rare and chronic diseases, and Boya Bio-Pharmaceutical (SHE: CN: 300294), a leading Chinese company specialized in the production of plasma-derived products, have entered into a Master Shareholders Agreement for the construction and management of a significant number of plasma collection centers in the People’s Republic of China (PRC).
Under the agreement, the plasma collection centers will be built and managed in adherence to the criteria established by the health authorities of the United States (U.S. Food and Drug Administration), the European Union (European Medicines Agency) and China (China Food and Drug Administration and National Health and Family Planning Commission), among others. The agreement furthermore includes an Engineering and Collaboration Services Agreement on the part of Grifols, which will bring its experience and know-how to build and manage the plasma collection centers, ensuring the same high standards of quality as in all of the centers that Grifols operates.
The initial investment to implement the project amounts to EUR 50 million and Grifols will control 50% of the decision-making and economic rights of the project. In accordance with the applicable Chinese legislation, all of the plasma obtained in these centers will be supplied to Boya Bio-Pharmaceutical, although Grifols reserves the right to access 50% of the collected plasma when the applicable legislation allows.
As the legal counsel of Grifols, the Senior Partner of AllBright Law, Calvin Lee, together with his team members, Emily Hsu, Ellen Zhang, provide the full legal services for this corporation, including the structural construction of plasma collection center, the negotiation between both parties and the draft and review of all relevant agreements in bilingual version. On the day of signing ceremony, Calvin Lee’s team accompanied Grifols to visit the production base of Boya Bio-Pharmaceutical.
