LONDON, March 19 /PRNewswire-FirstCall/ -- GlaxoSmithKline (NYSE: GSK) today reported its 2007 global giving to charitable initiatives totaled $564 million, equivalent to almost 4% of pre-tax profits for the company (with the FTSE 100 average around 1%). Donations of albendazole treatments for the company's flagship program to eliminate Lymphatic Filariasis (commonly known as elephantiasis) were valued at $29 million, bringing the total number of treatments given since GSK made its commitment 10 years ago to almost 750 million.
Commenting on the figures JP Garnier, CEO of GlaxoSmithKline said: "I want GSK to be part of global healthcare solutions, not only through our medicines and vaccines, but also through our public health programs and work with communities. This is embedded in our business, not just an 'add on'; whether it is eliminating LF, supporting HIV communities, fighting malaria, or preventing diabetes. Our partnerships offer more than a helping hand; they are transforming the lives and prospects of people all over the world."
GSK supports health and education programs in more than 100 countries
through donations of medicines and through long-term partnerships that
provide financial and practical support. The $564 million investment
includes product donations valued at $448 million, cash giving of $82
million and other in-kind donations, such as equipment, valued at $6
million. The costs to administer and deliver these programs were $28
The $448 million of product donations included:
-- A continuation of the Lymphatic Filariasis elimination program which
since 1998 has seen the donation of almost 750 million albendazole
treatments by GSK. This program, now in the tenth year of GSK's
involvement working with the World Health Organization and other
partners aims to eliminate LF by 2020.
-- $31 million of humanitarian product donations for the most impoverished
communities and international relief efforts, including the cyclone in
Bangladesh and floods in Mexico. GSK provides significant quantities of
essential quality medicines through a proven crisis response process.
-- $388 million provided via Patient Assistance Programs (PAP) for low
income patients in the USA. GSK provides $1 million in medicines per
day to patients who cannot afford to pay for their prescriptions. These
include products that are able to be used in an outpatient setting
across all therapeutic areas, such as: respiratory, psychiatric,
neurology, metabolic, CV.
Cash donations of $82 million delivered through partnerships with
hundreds of charitable organizations.
-- Over $41 million was directed to global and local health programs.
With GSK funding the Malaria Consortium is delivering 'Mobilizing for
Malaria', a program to increase awareness and mobilize resources for
this killer disease. In its 15th year, GSK's Positive Action for HIV
and AIDS delivered effective education, prevention and health care
services in 19 countries. GSK's PHASE (Personal Hygiene And Sanitation
Education) program continues to grow now reaching half a million
school children in 12 countries, helping to prevent diarrhoeal diseases
through better hand-washing.
-- Donations of almost $23 million supported education programs,
including science education and literacy. Through Crest Star
Investigators school children will have access to engaging science
activities at their UK after-school clubs. The target is to reach 5,000
schools and 55,000 children by 2010. GSK's 'Science in the Summer'
enables 6000 children in Philadelphia to participate in hands-on
experiments in libraries. GSK continues to support the Institute for a
Competitive Workforce, a business coalition staffed by the Business
Civic Leadership Center of the US Chamber of Commerce. This is aimed at
improving education and creating a skilled workforce for the future.
In addition to the company donations GlaxoSmithKline employees contributed more than $7 million to charities in the UK and US through employee-organized giving programs. Many also gave their time and skills to their local communities. Further details of GSK's giving and activities relating to other corporate responsibility areas are published today in GSK Corporate Responsibility report on gsk.com.
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