Exhibition Stands > News

GSK ups charitable support by 13%

25 Mar 2009

GlaxoSmitKline (GSK) increased its global donations to charitable initiatives in 2008 to £124 million - an increase of 13 per cent over the previous year, it has announced.

The company makes its assertions as it publishes its 2009 Corporate Responsibility Report, explaining the total comprises £68 million of product endowments, £37 million in cash, £15 million in management costs and £4 million of in-kind offerings.

Andrew Witty, chief executive officer of GSK, states the firm enjoys "unique and privileged" capabilities.

He adds: "As we move forward, we will continue to look for new ways and new partnerships to improve global public health and research."

GSK also outlines proposals to tackle diseases in the developing world, noting it will place more than 500 granted patents - and more than 300 pending applications - into a pool to aid other parties develop potential therapies for neglected diseases.

In recent days, the pharmaceutical firm announced its sale of 5,748,157 shares in Quest Diagnostics.