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Spain's Grifols posts 5% profit rise in 2019 on plasma medicines

MADRID, Feb 27 (Reuters) - Spanish pharmaceutical company Grifols posted on Thursday a 4.8% rise in 2019 net profit to 625 million euros ($679 million), mainly due to growth in its blood plasma-derived medicines business.

Grifols revenues increased by 13.6% to 5.1 billion euros, while its EBITDA rose 17.3% to over 1.4 billion, after the company expanded its network of plasma collection in recent years to meet increasing demand.

After refinancing 5.8 billion euros of debt in the third quarter, Grifols reduced its debt leverage ratio to 4.17 times at the end of last year from the highs of 4.78 times at the start of 2019, and said it would continue to cut its debt levels after growing through acquisitions in recent years. ($1 = 0.9201 euros) (Reporting by Emma Pinedo, editing by Andrei Khalip)

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