Drug Companies Drive 2010 Corporate Giving
By Americas Charities on June 2, 2011
By Michelle Nichols
NEW YORK — Drug companies helped drive an almost 18 percent increase in corporate philanthropy last year as they gave away medicine to poor Americans still struggling in a rough economy, a survey found on Thursday.
The Committee Encouraging Corporate Philanthropy poll of 110 companies found they gave $13 billion in cash and products last year as the United States began to emerge from recession.
While 40 percent of the 110 companies -- polled annually for the past four years -- boosted their giving last year by more than 10 percent, another 17 percent decreased their giving by more than 10 percent compared to 2009.