In-kind donations of $448 million constituted the bulk of drug company GlaxoSmithKline’s charitable giving last year.
The London-based company donated a total of $564 million to charity in 2007, equal to almost 4 percent of its pre-tax profits, compared to an average of about 1 percent for the 100 largest companies on the British stock exchange.
GlaxoSmithKline’s in-kind donations included almost 750 million treatments of albendazole, used to combat elephantiasis, that were valued at a total of $29 million.
Another $31 million in products were donated for international relief efforts and to poor communities.
Donations through the Patient Assistance Program, which provides drugs for low-income patients, totaled $388 million in 2007.
The company also donated a total of about $82 million through partnerships with nonprofits.