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Headlines
Sale of UPS Stock Doubles Foundation's Assets
BP Amoco Pledges $100 Million to California as Part of Merger Deal
Goldman Sachs Lifts Restrictions on Stock for Charitable Donations
Wal-Mart Chairman Stock Sale to Benefit Charity
Public-Private Partnership Aims to Provide Affordable Drugs for Malaria
Disney Learning Partnership Names Teacher of the Year
BellSouth Foundation Wraps Up Second Phase of Education Technology Program
Entrepreneurs' Foundation Makes First Investment
National School Boards and AOL Foundation Team Up to Promote Parental Involvement in Local Schools
Lucent Technologies Foundation Announces Grants to Science Centers
Patty Stonesifer, Gates Foundation Co-Chair, Profile
Study Reveals Business Women Are Substantial Givers
Arts & Business Council and American Express Announces Arts Marketing Grants
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PHILANTHROPY NEWS DIGEST
Over 300 million new cases of clinical malaria are reported and
more than 1 million people die from the disease every year.
Affordable new drugs need to be distributed to communities in
which the rate of transmission is high if the disease, which is
beginning to show resistance to existing medications, is to be
contained. The enormous cost of bringing new drugs to market,
however, makes medications aimed at poor populations
unattractive to most for-profit pharmaceutical companies.
Designed as an entrepreneurial venture, the nonprofit MMV
will negotiate licensing agreements with its partners that make
possible the commercialization of products for low-income
populations at affordable prices. If royalty income accrues
to MMV on products that earn significant returns for its
partners, the resulting income will be set aside to help
offset the need for future donations.
"We cannot face a mother whose child has just died of
malaria and tell her: 'I am sorry; your child has died as a
result of market failure' or, 'your child has died because
the public sector is not able to take action.' We must do
better than that," said Dr. Gro Harlem Brundtland,
director-general of the World Health Organization.
For more information on WHO's public-private ventures aimed
at eradicating infectious disease, see WHO Fact Sheet 235. To read the "WHO Report on Infectious Diseases," visit:
http://www.who.org/infectious-disease-report/.
FCnote: The Rockefeller Foundation (NY) had assets of $3,094,733,452 and made grants totaling $99,262,759 in the year ending 12/31/97.
"Rockefeller Foundation, WHO, others establish Medicines
for Malaria; Venture a Public-Private Partnership to
Develop New Anti-Malaria Drugs Affordable to Countries
Worst Hit by the Disease." Rockefeller Foundation Press
Release 11/3/99.
"Dr. Gro Harlem Brundtland, Director-General World Health Organization, Statement at MVV Launch." WHO News Release 11/3/99.
FC003024
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