RESEARCH TRIANGLE PARK, NC – Barcelona-based Grifols, the largest maker of blood plasma products in Europe, has agreed to pay $3.4 billion for Talecris Biotherapeutics Holdings Corp.

The move will greatly expand Grifols’ share of the U.S. market, putting it on a par with competitors Baxter International Inc. and CSL. CSL, based in Melbourne, withdrew its plans to acquire Talecris for $3.1 billion when the U.S. Federal Trade Commission objected to the deal.

Grifols, which is a much smaller competitor in the U.S. than CSL, does not expect difficulties from the FTC, its CEO said during a conference call.

Grifols says the combination of the two companies will create a vertically integrated and diversified international plasma protein therapies company, bringing together complementary geographic footprints and products, as well as increased manufacturing scale.

Talecris makes the bulk of its revenue from sales of two products, Gamunex, a treatment for immune system disorders, and Prolastin, for Apha-1 antitrypsin deficiency.

Talecris Chairman and CEO Lawrence D. Stern said in a statement, “We believe that Grifols’ well-established reputation, know-how and expertise will enable the combined entity to meet the needs of more patients.

Grifols is paying $26.16 in cash and stock for each Talecris share, 53 percent higher than the average closing price for the past 30 days.