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Gilead Announces $20 Million Philanthropic Fund to Support Nonprofit Organizations Impacted by the COVID-19 Crisis
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Gilead will also donate $2 million to community funds in San Mateo County and Los Angeles -
FOSTER CITY, Calif.--(BUSINESS WIRE)--Apr. 8, 2020-- Gilead Sciences, Inc. (Nasdaq: GILD) announced the creation of the global Gilead CARES (COVID-19 Acute Relief and Emergency Support) Grantee Fund to provide financial support to current grantees facing an imminent closure or termination of vital services due to losses attributable to the COVID-19 pandemic. The fund will provide up to $20 million in donations to these nonprofit groups.
Gilead will also make two significant community donations: $1 million to the San Mateo County Strong Fund, which is providing financial support to individuals, small businesses and nonprofit organizations in San Mateo County where Gilead is based, and $1 million to the Mayor's Fund for Los Angeles, which is providing support for families and small businesses, relief for healthcare workers and other services in response to the COVID-19 crisis. Kite, Gilead's operating company that is focused on cell therapy, is headquartered in the Los Angeles area.
Additionally, Gilead will match employee donations to three global relief organizations through the company's Giving Together corporate match program as part of a special campaign. Proceeds will be split equally between Direct Relief, the UN Foundation's COVID-19 Solidarity Response Fund and International Medical Corps.
"Around the world, we are hearing from nonprofit organizations that they are struggling to meet the needs of the communities they serve during the COVID-19 crisis," said Brett Pletcher, General Counsel and Executive Vice President, Corporate Affairs. "For many years, we have stood with community-based organizations that provide critical support to people living with HIV, viral hepatitis, cancer and other illnesses. It is in recognition of the importance of their work that we are launching this fund to help these groups remain financially sustainable for the long term."
As part of Gilead's broader commitment to communities around the world, the company provided almost $400 million in cash donations globally last year to not-for-profit organizations. Gilead's long-standing approach has been that it takes more than medicine to address challenges patients and communities face in accessing the best possible care, and that scientific discovery alone - and Gilead alone - cannot solve these challenges. Gilead applies the same values of partnership, integrity and dedication to its work tackling the social and structural challenges as the company does to scientific research.
The Gilead CARES Grantee Fund was established to support organizations that already receive grant support from Gilead. Organizations may be eligible to receive up to $100,000 in emergency assistance. Existing grantees that wish to request support should submit funding requests using Gilead's online grants management system.
Letter from Gilead: Message from Amy Flood: Supporting our friends and partners - (04/06/20)
Gilead/Continued Supply of HIV Medicine During the Novel Coronavirus Outbreak - (03/24/20)
About Gilead Sciences
Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. The company strives to transform and simplify care for people with life-threatening illnesses around the world. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California.
For more information about Gilead, please visit the company's website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
Doug Maffei, PhD, Investors
(650) 522-3739
Chris Ridley, Media
(650) 235-2220
Source: Gilead Sciences, Inc.
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