Grifols shares soar after 2023 profit outlook upgrade

Grifols shares soared in early trading on Thursday after the Spanish drugmaker upgraded its annual profit outlook following a strong quarter. Grifols, which posted a third-quarter net profit of 60 million euros ($63.64 million) from a loss in the first half of the year, raised its 2023 guidance for adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to 1.45 billion euros from range of 1.40-1.45 billion previously. The company, which uses blood plasma to make medicines, posted a nine-month net profit of 3.3 million euros, while its adjusted EBITDA reached 1.03 billion euros.