By Ion Jauregui – Analyst at ActivTrades
Strategic break with QuidelOrtho and new stage in diagnostics
The Spanish company Grifols has ended its more than four-decade alliance with QuidelOrtho for the production of antigens, in a move that marks a turning point in its diagnostics strategy. As part of the agreement, it will receive 65 million dollars (around 55.5 million euros) in payments through 2028, although both companies will maintain an exclusive supply contract. Grifols will continue manufacturing for its former partner and for clients such as Abbott Laboratories, Siemens and OraSure Technologies, while gaining autonomy to develop new higher value-added products.
Fundamental impact: improved flexibility and business transition
From a fundamental perspective, the impact is moderately positive. The cash injection improves short-term financial visibility, relevant in a context of high indebtedness, but the real change lies in strategic flexibility.
The diagnostics division —which represents around 8.5% of the business— recorded 640 million euros in revenue in 2025, with a 0.8% decline affected by currency effects. In parallel, the transition toward more advanced solutions, including those approved by the Food and Drug Administration, points to a gradual improvement in margins, supported by dynamic segments such as blood typing, which grew 6.6%.
In addition, there is the stability of relevant contracts such as the agreement signed with Abbott in 2015 for 700 million dollars, which continues to provide visibility to the unit.
Grifols SA (TICKER AT: GRF) consolidation after corrective phase
In technical terms, Grifols SA is in a consolidation phase after recent volatility that pushed the price from 11.7 euros to yearly lows at 8.432 euros.
Currently, the stock trades in a narrow range between 9 and 10 euros, standing around 9.19 euros, reflecting a sideways structure after the corrective move.
Key resistance is located at 10.409 euros, a level that coincides with the 200-day moving average and acts as a relevant dynamic barrier. Above that, the next targets are 11.165 and 11.7 euros. On the downside, supports are located at 8.432 euros, followed by 7.934 and lows at 7.282 euros.
The stock remains conditioned by the “death cross” recorded on March 6, whose invalidation would require a clear consolidation above the 200-day moving average. A break below 8.432 euros would reactivate downside pressure toward 7.282 euros lows, while an upward breakout with volume would strengthen a potential structural trend reversal.
Technical indicators remain mixed: RSI stands around 45 in neutral territory, MACD remains negative but with decreasing bearish momentum, and moving averages still do not confirm a solid bullish reversal.
Greater autonomy, key to the stock narrative
The break with QuidelOrtho does not materially change the short-term outlook, but it reinforces Grifols’ strategic reconfiguration toward a more independent, efficient model focused on added value. The market will now assess whether this greater autonomy translates into sustainable margin improvement and the consolidation of a medium-term trend reversal.
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