Cord Blood Firms Turn Astrologers

- Arushi Bedi

IT is a common belief that technical advancement promotes the propensity to fleece people. It’s no different in the medical field: a major upgradation in the know-how of stem cells has triggered the money-making potential of this fast-growing branch of knowledge about which most people don’t have a grasp. thus, the ‘business’ of child birth has found a new companion in the form of private cord blood banking—something researchers and doctors say gives the provider high profits, but is low on consumer benefits.

Cord blood (CB) banking is the process of collecting blood from the umbilical cord of a newborn and storing it for future medical use. A newborn’s CB is a rich source of stem cells, which are undifferentiated cells that can give rise to infinitely more cells, thus help cure hereditary or genetic issues that can lead to blood-related diseases or even cancers.

Over the past few years, India has seen a rise in private CB banks that store the body fluid in the newborn’s umbilical cord. It comes with a fee as a promise to protect the child in the eventuality of a life-threatening disease. In 2015, the Central Drugs Standard Control Organisation (CDSCO), which is responsible for licensing and regulating CB banking in India, registered 14 such cord blood banks across the country. The number grew to 21 this year. In addition, sources tell Outlook that the country has over 500 unregistered companies dealing with CB cells and are fleecing unsuspecting consumers into spending lakhs of rupees.