10.08.2013 Views

The report is available in English with a Dutch summary - KCE

The report is available in English with a Dutch summary - KCE

The report is available in English with a Dutch summary - KCE

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

38 Plasma <strong>KCE</strong> Reports 120<br />

Key po<strong>in</strong>ts<br />

• <strong>The</strong> production of plasma derivatives <strong>is</strong> not carried out only by the CAF-<br />

DCF, which has concluded agreements <strong>with</strong> foreign firms to carry out a part<br />

of the process<br />

• Relatively large volumes of plasma purchased by CAF-DCF do not<br />

contribute at all to the fractionation process. <strong>The</strong>se volumes seem to vary<br />

greatly over the years, and th<strong>is</strong> phenomenon has not been clarified.<br />

• <strong>The</strong> CAF-DCF seems to experience overcapacity for specific stable<br />

derivatives. In spite of the decrease of the volumes of purchased plasma, it<br />

produces more than it actually sells on the Belgian market. A proportion of<br />

collected plasma (under the form of <strong>in</strong>termediate product) <strong>is</strong> sometimes<br />

dedicated to the production for foreign markets.<br />

• Trad<strong>in</strong>g as well as production agreements, concluded between CAF-DCF<br />

partners, are not transparent towards the public authority, although th<strong>is</strong><br />

f<strong>in</strong>ancially supports CAF-DCF through subsidized plasma prices.<br />

2.2.3.4 Position of CAF-DCF on the <strong>in</strong>ternational market<br />

<strong>The</strong> <strong>in</strong>vestments made by the CAF-DCF, notably <strong>in</strong> a new build<strong>in</strong>g <strong>in</strong> Neder-Over-<br />

Hembeek, enable the company to manufacture quality products that have resulted <strong>in</strong><br />

foreign companies tak<strong>in</strong>g hold<strong>in</strong>gs <strong>in</strong> the capital of the CAF-DCF. Nevertheless, the<br />

CAF-DCF rema<strong>in</strong>s a very small enterpr<strong>is</strong>e on the world stage and its f<strong>in</strong>ancial situation<br />

<strong>is</strong> precarious, despite the <strong>in</strong>direct subsidies it receives through the price that it pays for<br />

plasma to the Red Cross.<br />

An audit carried out <strong>in</strong> 2006 had already highlighted the difficult f<strong>in</strong>ancial situation of the<br />

CAF-DCF. 9 Accord<strong>in</strong>g to th<strong>is</strong> audit, the results of th<strong>is</strong> enterpr<strong>is</strong>e <strong>in</strong> Belgium were <strong>in</strong><br />

the red for the entire period under review (2000 – 2005) and the positive results of<br />

foreign operations were not enough to offset the losses made <strong>in</strong> Belgium. As from<br />

2003, the purchases column saw a substantial <strong>in</strong>crease due to the r<strong>is</strong>e <strong>in</strong> the price of<br />

plasma from plasmapheres<strong>is</strong> (+37%). Two other cost head<strong>in</strong>gs were also to blame for<br />

the deterioration <strong>in</strong> the f<strong>in</strong>ancial situation of the CAF-DCF dur<strong>in</strong>g the period <strong>in</strong><br />

question: ‘special orders’ and ‘purchases of stable derivatives’. <strong>The</strong> r<strong>is</strong>e <strong>in</strong> the head<strong>in</strong>g<br />

‘special orders’ follows the closure of the former CAF fractionation factory <strong>in</strong> Ixelles.<br />

As from 2004, the plasma was fractionated <strong>in</strong>to <strong>in</strong>termediate products <strong>in</strong> the factory at<br />

Neder-Over-Heembeek. <strong>The</strong> <strong>in</strong>termediate products are then sent to foreign partners<br />

for f<strong>in</strong>er fractionation. S<strong>in</strong>ce 2002 the preparation of factor VIII has been carried out by<br />

the French company LFB. S<strong>in</strong>ce 2003 the album<strong>in</strong> has been produced by Sanqu<strong>in</strong> <strong>in</strong> the<br />

Netherlands. As for the r<strong>is</strong>e <strong>in</strong> the head<strong>in</strong>g ‘purchases of stable derivatives’, it results<br />

from a comb<strong>in</strong>ation of two factors: the purchase of PPSB by Sanqu<strong>in</strong> follow<strong>in</strong>g the r<strong>is</strong>e<br />

<strong>in</strong> demand for th<strong>is</strong> product and the manufacture of Multigam (immunoglobul<strong>in</strong>s) by the<br />

firm Biotest, which receives the <strong>in</strong>termediate products from the CAF-DCF and sends<br />

them back as the f<strong>in</strong><strong>is</strong>hed product.<br />

Accord<strong>in</strong>g to the audit conducted by F. Verhaegen, th<strong>is</strong> negative f<strong>in</strong>ancial situation<br />

should improve significantly <strong>with</strong> the removal of the compulsory levy on the<br />

pharmaceutical firms.<br />

Key po<strong>in</strong>ts<br />

• <strong>The</strong> CAF-DCF <strong>is</strong> a high technology firm but rather small on the world-wide<br />

scale.<br />

• <strong>The</strong> f<strong>in</strong>ancial situation of the CAF-DCF, structurally negative between 2000<br />

and 2005, recovered thanks to the removal of the levy on pharmaceutical<br />

products, from which plasma derivatives are currently exempt

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!