Grifols says anti-coronavirus hyperimmune immunoglobins may be ready mid-July

BARCELONA, April 21 (Reuters) - Spanish pharmaceutical company Grifols said on Tuesday the hyperimmune immunoglobins it is developing as a treatment against SARS-COV-2 could be ready in mid-July.

The Barcelona-based company also said it is producing a test device to detect the coronavirus, which it expects to be ready in early May, as it announced first quarter results in which it posted a net profit of 186.4 million euros ($201.95 million)versus 114.4 million euros in the same period a year ago.

SARS-CoV-2 is the formal name for the coronavirus.

Grifols said on March 25 it agreed to work with the U.S. Food and Drug Administration and other agencies to gather plasma from patients who have recovered from the COVID-19 disease caused by the virus and to test potential therapies.

The plasma would be processed to produce hyperimmune immunoglobins, which would then be put to pre-clinical and clinical tests to see if they could help treat the disease, Grifols said then in a statement.

$1 = 0.9230 euros Reporting by Joan Faus; Editing by Andrew Cawthorne