If you find yourself in a tight financial situation, you might consider a process called "plassing," which involves donating the plasma in your blood to a collection center. These centers are often owned by companies profiting immensely from the plasma of individuals who need quick cash. One such company, Grifols SA, based in Barcelona, Spain, has built a $3.8 billion fortune on this very practice.
The demand for plasma has surged globally over the past decade, particularly in the U.S., where many face financial hardships. In fact, plasma collection has more than doubled during this period. Grifols has seen a 37% increase in its shares last year, operating 220 collection centers across 32 states—making up a significant portion of the network. In 2018 alone, the company reported a net income of $653 million, primarily from its bioscience division that processes collected plasma into drugs, fulfilling an urgent need for many cash-strapped individuals.
Established in 1940 by brothers Jose Antonio and Victor Grifols Lucas, the company initially focused on developing vaccines and blood transfusion technology amidst the turmoil of Spain's civil war. With the groundbreaking work of Jose Antonio's son, Dr. Jose A. Grifols Lucas, who published the plasmapheresis procedure in 1952, the company pioneered methods that allowed for more frequent donations without adverse effects. Today, Grifols stands as one of the three major players in the global plasma market, significantly impacting both the economy and the healthcare industry.
What You Will Learn
- The process of donating plasma and its financial implications.
- The historical background and growth of Grifols SA.
- The ethical concerns surrounding plasma donation and collection centers.
- Insights into the global plasma market and its impact on low-income communities.
