Grifols is going to benefit from the lifting of the US veto that affects Mexican tourists who give their plasma in exchange for remuneration. A district of Columbia judge issued an order this Friday that eliminated the previous decision of the US border agency (CBP), which decided after the Covid-19 pandemic that these people could not receive compensation. because your visa does not allow it.
This judicial decision affects companies that manufacture blood products, such as Grifols or the Australian CSL, leaders in the sector, which since the pandemic have seen their plasma collection capacity reduced and has caused the cost of production to increase.
In a document yesterday, Santander evaluated the judicial decision as “very positive” for Grifols. Specifically, the bank calculates that the Catalan multinational could recover between 5% and 6% of the total volume of plasma in 2022 and collect the same volume as before the pandemic (which would mean an increase of 20% year-on-year).
The bank also recalls that the increased collection of plasma will improve the margins of the laboratory listed on the Ibex 35. It indicates that, for example, reducing the cost per liter from 80 to 50 dollars would raise an additional 390 million EBITDA. Grifols has suffered from a lack of plasma since the pandemic, although in recent weeks it indicated that it was reaching pre-Covid levels. This raw material is used to manufacture its blood-derived medicines.
The order of the Columbia judge is valid from its issuance, as advanced yesterday The Wall Street Journal. Grifols and CSL had filed a lawsuit to overturn the ban, which came amid the Covid pandemic. The American newspaper affirms that around 10% of the plasma collected in the US comes from Mexican citizens who cross the border to go to these centers to give up their plasma in exchange for around 50 dollars.
The USA is one of the few countries in which the collection of plasma is remunerated and, consequently, it is the main source of raw material for blood products that are then distributed throughout the world.
“Grifols welcomes the decision of the US Court to issue a preliminary injunction against the ban,” the Catalan laboratory responds in writing. “This decision is good news for patients in the US and around the world who depend on our plasma medicines. We welcome all qualified Mexican donors to our donation centers and thank them for their contribution to the plasma supply, which is vital and critical to public health,” he adds.
an arbitrary change
Judge Tanya S. Chutkan, of the Columbia district, points out in the ruling that the change in US border policy seemed arbitrary, according to WSJ. It also supports the companies’ argument of the harm caused by the decision, by restricting plasma supply at a time when “national public health and the supply chains that support it are particularly at risk.”