Pharmaceutical Companies Respond to Haiti Earthquake with $20 Million in Aid

Strategic Insights -

As the situation in Haiti continues to deteriorate following the devastating earthquake, American pharmaceutical research and biotechnology companies are stepping up to provide critical aid. Donations from companies like Abbott, Amgen, and GlaxoSmithKline have already reached $20 million, with the total amount still growing. PhRMA President and CEO Billy Tauzin emphasized the swift response of the industry, saying that companies got to work "coordinating efforts with relief organizations and health care groups already on the ground" the day the news broke.

Key Takeaways:

  • Over $20 million in medicines, medical supplies, and cash have been committed to Haiti relief efforts by PhRMA member companies.
  • The total amount is still growing as companies continue to pledge support.
  • PhRMA companies are coordinating with organizations like the World Health Organization, UNICEF, and the Red Cross to ensure that aid is delivered effectively.
  • The Rx Response program, developed after Hurricane Katrina, has facilitated the donation of medical products and volunteer services for the Haiti response effort.
  • PhRMA member companies invested an estimated $50.3 billion in 2008 in discovering and developing new medicines, with industry-wide research and investment reaching $65.2 billion in the same year.

Statistics:

  • Over $20 million in aid has been committed to Haiti relief efforts by PhRMA member companies.
  • PhRMA companies invested $50.3 billion in 2008 in discovering and developing new medicines.
  • Industry-wide research and investment reached $65.2 billion in 2008.

Sources:

  • "Pharmaceutical Research and Manufacturers of America (PhRMA) News Release"
  • "Pharmaceutical Research and Manufacturers of America (PhRMA)"
  • "Biotech Week via NewsRx.com"