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Value of community investment

GSK donations were valued at £380 million ($691 million) in 2005, compared with £328 million in 2004. This is equivalent to 5.6% of pre-tax profits.

This figure includes medicines worth £255 million ($464 million) donated to low-income patients in the US through our Patient Assistance Programs, £27 million ($49 million) of humanitarian product donations for under-served communities around the world and £14 million ($26 million) in albendazole tablets for the lymphatic filariasis elimination programme.

Our total community investment also includes £61 million ($111 million) in cash grants and almost £21 million ($38 million) in management costs.

GSK is a member of the UK’s Percent Club for companies which donate at least 1% of their pre-tax profits to charitable causes. GSK is regularly one of the top companies in the UK’s Guardian Giving List which lists FTSE 100 companies by the percentage of pre-tax profits contributed to charitable causes. In 2005, we were listed 10th, based on the percentage of our pre-tax profits donated in 2004, but for the fourth year in a row we were the biggest overall giver in the value of our donations. [we will include the LBG and percent club logos]

We are members of the UK’s London Benchmarking Group (LBG) and the Committee to Encourage Corporate Philanthropy (CECP) in the US. We report our donations in line with the guidelines set by the CECP, which values our medicines at wholesale acquisition cost, in line with other pharmaceutical companies. Wholesale acquisition cost is the wholesale list price, not including discounts.

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