GlaxoSmithKline donates millions to charitable causes in 2007
20 March 2008 00:00 in Pharmaceutical Company Financials
Worldwide donations to charitable initiatives by pharmaceutical firm GlaxoSmithKline (GSK) topped 282 million pounds in 2007 and benefited programmes in 100 countries, the company has said.
According to the firm, this included 224 million pounds worth of treatments, three million pounds worth of equipment and a further 41 million in cash and in-kind donations.
Through these donations, GSK says it is supporting global and local health initiatives around the world, including a flagship initiative to eradicate Lymphatic Filariasis (LF), otherwise known as elephantiasis, using its albendazole treatment.
Some 14 million pounds was invested in this programme last year, GSK notes. Since it started a decade ago, the programme has provided approximately 750 million treatments.
Other charitable initiatives include 15 million pounds for treatments for humanitarian aid, including relief efforts in Bangladesh and Mexico, plus Patient Assistance Progammes, through which GSK donates $1 million (506,232 pounds) a day to people who cannot pay for their prescriptions.
GSK chief executive J P Garnier said providing funds to combat LF, as well as malaria and other diseases, was "embedded" in the company.
"Our partnerships offer more than a helping hand - they are transforming the lives and prospects of people all over the world," he added.
GSK's roots go back to the Plough Court pharmacy, which was established by Silvanus Bevan in London in 1715.
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