We aspire to continue creating shared value that goes beyond profit maximization and drives sustainable development and social progress.
We measure our shared value creation
Grifols uses the SROI methodology to determine the impact generated for donors, local communities and patients, estimating the overall cost-benefit of their treatments.
SROI METHODOLOGY
Donors
Patients
Local Communities
Analysis and monetary valuation of the produced change
social
economy
health
SROI Impact
SROI Ratio
Value generated
in relation
to the investment
Main indicators
Total value created in 2023
$32,427 M
Value created for donors and local communities
$5,057 M
Value created for patients
$27,370 M
Value creation beyond the bottom line
Analyzing and measuring our created value
In 2020, Grifols began analyzing and measuring the value created by its plasma donation centers in the U.S. and Europe, as well as the value generated by its main plasma medicines on patients, with an emphasis on the principal diseases for which they are indicated. These include alpha-1 antitrypsin deficiency (AADT); immunoglobulins for primary immunodeficiencies (PID), secondary immunodeficiencies (SID), chronic inflammatory demyelinating polyneuropathy (CIDP), primary immune thrombocytopenia (ITP), Guillain Barré syndrome and myasthenia gravis (MG); coagulation factor VIII; and albumin for the treatment of acute liver disease, hepatorenal syndrome and spontaneous bacterial peritonitis (SBP).
Grifols follows the SROI (Social Return on Investment) methodology, which allows users to discern the value created for donors, local communities and patients, and estimate the overall cost-benefit of their treatments.
*More information on the SROI methodology: “About This Report” chapter.
Total value created in 2023
$32,427 M
SROI TOTAL: 1.87**
For every $1 Grifols invests, it generates $0.87 in social ROI
*Total SROI refers to both investments and social value created.
**Using the highest QALY value from the sensitivity table as a proxy.
SROI: social return on investment
The social return on investment (SROI) methodology aims to measure Grifols’ impact in monetary terms on the various stakeholders with which it interacts. The methodology is based on both cost-benefit analysis and social accounting.
The SROI uses individual assessments to measure the change in stakeholders’ lives as a result of Grifols’ activities. The evaluations are quantified and recorded on an impact map, and monetary value is then assigned to the resulting social, environmental and economic impacts.
Impact analysis for donors and local communities
As of 2023, Grifols has 286 plasma centers in the U.S., 94 in Europe and 11 in the rest of the world, all in areas with a strong dedication to community development.
Grifols plasma donation centers are based in communities with dynamic chambers of commerce, a vocation for social progress, and ongoing community action. Plasma-center employees also take an active role and participate an array of initiatives in their communities.
In 2023, Grifols’ value creation for donors and communities was similar to 2022 levels (USD 2,600 million for donors and USD 2,550 million for local communities) despite the decrease in the number of plasma centers as stipulated in Grifols’ operational improvement plan. With this shift, the value created per donation center has increased.
The 2023 SROI analysis has given Grifols a detailed understanding of how it contributes to donors and local communities that house its plasma centers, with insights based on the interviews conducted
Total impact on donors and communities in 2023
$5,057 M
Donors
$2,579 M
Local communities
$2,478M
Positive impacts for Grifols donors
- FINANCIAL STABILITY: Donors have more income to cover their day-to-day needs and monthly living expenses.
- HEALTHIER LIVES: Donors’ health improves since they are able to better afford higher-quality food and exercise more frequently.
- PHYSICAL AND PSYCHOLOGICAL WELL-BEING: Donors feel better about themselves, enjoy a better social life and more leisure and travel time.
- EDUCATIONAL EXPENSES: Donors are more confident about their future since they can better afford tuition and pay for other university expenses.
- PERSONAL SATISFACTION AND MORAL WELL-BEING: Donors feel better about themselves by performing a good deed, since donating plasma helps thousands of patients live healthier lives thanks to the medicines produced with donated plasma.
Positive impacts for local communities
- HEALTHCARE ACCESS: Healthier communities since plasma donations require donors to be in good health, leading to a greater number of people who benefit from plasma-derived proteins.
- ECONOMIC IMPACT IN DONOR COMMUNITIES: A sizeable amount of money reverts back to the community, with around 87% of compensations injected within a 20-mile radius.
More information on donors and plasma centers: “Donors and Patients” chapter. More information on Grifols’ social outreach: “Social Impact” chapter.
Impact analysis for patients
In 2023, Grifols continued its efforts to assess the impact of its main plasma medicines on the patient population treated. In this regard, it commissioned an independent expert specialized in the SROI methodology to analyze the value created by the Plasma Procurement and Biopharma units, which oversee the manufacture and distribution of plasma proteins.
The data obtained (USD 27,370 million) show a clear increase in the value generated for patients compared to 2022 (USD 23,810 million), due to a broader population of treated patients, regardless of increases and/or decreases recorded in each pathology.
In 2023, new scientific literature led to a better demarcation and assessment of quality of life (QOL) indicators, the most reliable metric to evaluate and quantify patients’ progress. One QALY equals one year in perfect health. If an individual’s health falls below this maximum, QALYs accumulate at a rate of less than one per year.
The formula for monetarily calculating the improvement in the patient’s quality of life because of treatment considers the value of living one year in perfect health (1 QALY), weighted by the percentage increase of the patient’s improvement.
Next is a summary of the different economic valuations used to measure the impact on patients according to the changes noted in their quality of life (QALY), taking into account three sources and their respective methods:
- Institute for Clinical and Economic Review (ICER)1 in Boston, whose latest review set the median value per QALY at USD 100,000, the lowest range at USD 50,000 and the highest at USD 150,000 per QALY. This indicator captures the heterogeneity of patients treated and their geographic dispersion.
- Proposal by Braithwaite et al.2, which assigns the QALY a value of USD 297,000 in its high range. This indicator mainly reflects the reality of the United States.
- The approach values one year of life between 1 and 3 times the per capita3 GDP in the United States. Considering the estimated per capita4 GDP in the U.S. for 2023 (USD 80,412), a range of USD 80,412 to USD 241,237 would be assigned to the QALY.
It is worth noting that Grifols’ SROI analysis adhered to the principle of prudence, so its social impact is probably greater than that reported.
Total Impact 2023
$27,370 M
Equivalent to 6 quality-of-life improvement in relation to the cost of the plasma-based medicine
Positive impact of Grifols’ 4 main plasma proteins on patients treated*:
$793 M
Alpha-1 antitrypsin
$122 M
Factor VIII
$11,505 M
Immunoglobulins
$14,950 M
Albumin
* For the diseases for which they are indicated.
1. ICER Institute for Clinical and Economic Review website, icerreview.org.
2. Braithwaite, R. Scott, Meltzer, David, King Jr., Joseph, John, Leslie, Douglas, and Roberts, Mark S. Medical Care, Vol. 46, No. 4 (April 2008), pp. 349-356.
3. http://www.idsihealth.org/wp-content/uploads/2015/01/CE-Thresholds-iDSI-Working-Group-Final-Report.pdf (website visited in January 2024)
4. https://www.statista.com/statistics/263601/gross-domestic-product-gdp-per-capita-in-the-united-states/ (website visited in January 2024)