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GRIFOLS Business update - Third Quarter 2021 November 11 , 2021 Grifols advances on the execution of its strategic plan through its investment in Biotest and agreement with GIC amid favorable U.S. market conditions Biotest AG's Management Board and Supervisory Board endorse Grifols ' investment and recommend minority shareholders to accept the voluntary public tender offer Grifols makes important strides to reduce its debt levels . The strategic agreement with the sovereign wealth fund of Singapore ( GIC ) will allow to reduce it by USD 1 billion Demand for plasma proteins remains solid in a rising - price environment , which will continue in 2022. In the last two quarters , plasma collection volumes significantly exceed 2020 levels . The company continues to work to accelerate the expected recovery The reduction of fiscal programs in the U.S. encourages a further increase in plasma donations and enhances the value of Grifols ' current debt structure , strategically devised in the potential event of interest rate hikes Grifols advances on the execution of its strategic plan in anticipation of the current situation , in a period marked by important organic and inorganic initiatives aimed at bolstering its plasma- collection levels and enhancing its innovation projects . This period is also marked by the strategic investment in Biotest , the agreement with GIC , as well as the optimization of its financial structure . As of September 30 , 2021 , the demand for Grifols ' products and solutions remained robust across all divisions in a rising - price environment for the main plasma proteins in its core regions of operation . These price upturns are expected to persist in 2022 . Favorable U.S. market conditions for Grifols : fiscal stimulus plans and a potential interest rate hikes In the United States , the reduction of fiscal stimulus plans has led to a further surge in plasma donations and advanced Grifols ' efforts to attain higher plasma - collection volumes in the country . In Europe , plasma volumes prolonged their upward trend , recording noteworthy year- on - year growth since 2019 . Page 1 of 4