Grifols Sanctioned by Spanish Regulator for ‘Misleading’ Figures

Spanish drugmaker Grifols SA is being sanctioned by the country’s markets regulator for “misleading reporting,” a blow for the pharmaceutical company as it deals with a takeover approach.

CNMV announced the sanction after investigating Grifols’ accounts and finding “relevant deficiencies,” though “no significant errors.” It said the company, targeted by a short-seller attack earlier this year, supplied inaccurate data and its financial reports over the past several years contained misleading information about the way it calculates certain metrics.

In response, Grifols said the penalty did not exceed €1 million ($1.1 million). Grifols said the sanctions would have no impact on ...