pharmaceutical griffles This Friday session started in the red, dropping 3% at the open and losing 6.6% at the 9.30 mark. That adds to the 16% decline it closed this Thursday after holding a conference call with investors to clear doubts raised about its accounts by bearish fund Gotham City Research. Ibex started the last session of the 35-week period with a rise of 0.19%, which allowed it to rise up to 10,024.2 points, maintaining 10,000 points on the day when the final inflation data in Spain was published in December.
The investment firm’s report exposing the Gowex scandal has had a profound impact on the Catalan pharmaceutical company’s stock market performance this week. The company lost 2 billion 651.63 million euros on the Stock Exchange, with a decrease of 30.44 percent in just three days.If the crashes on Tuesday, Wednesday and Thursday are added. On January 9, when Gotham published a report accusing Grifols of hiding some of its debt, shares lost almost 26%, or around 2.2 billion euros, but lost more than 40% at certain times during the day.
It failed to convince investors on a noon conference call after regaining some of the losses on Jan. 10 with a 12% rally spurred by the firm’s announcement that it would take legal action against Gotham City. The stock market crash began its path immediately after the end of the meeting: The shares of the pharmaceutical company closed this Thursday with a decrease of 16.17% on the stock market.
During the conference call, Thomas Glanzmann, the company’s chairman and CEO, acknowledged the need for improvements in governance and communication, but criticized Gotham’s published document. “Gotham sought only capital gains and acted in self-interest“We used the information to suggest irregularities that were previously reviewed and approved by regulators and the auditor,” he argues.