CSR: An Overview
Life Sciences…A Commitment to Corporate Social Responsibility
Life sciences companies develop and bring cutting-edge medications, therapies, medical products and technologies to the global marketplace that improve the quality of living — and save lives.
What may not be as well known to the public is the life sciences community’s longstanding and unwavering commitment to corporate social responsibility (CSR). Indeed, this commitment to giving is another pillar on which our industry is built.
Supporting the Community — Locally and Globally
Whether responding to myriad needs of their local communities or to devastating natural disasters that occur on the other side of the globe, the companies and employees that comprise the life sciences community give generously not only from their wallet but of their time and talent as well.
The “Chronicle of Philanthropy” recently reported that “Cash gifts by some of the largest U.S. companies rose 5 percent last year.” The survey also found that “Total giving, including products, grew 8 percent, led by overseas donations of drugs by large pharmaceutical companies.
An April 2011 Foundation Center report found that six of the top 25 U.S. corporate foundations that gave the most in philanthropic donations were pharmaceutical companies.
In addition, 14 of the pharmaceutical foundations examined in the report provided $3.7 billion in in-kind donations in 2009. This is a testament to the incredible commitment of this industry to helping patients who are facing financial hardships access the medicines they need to lead fuller, healthier lives.
While the Foundation Center report focused on biopharmaceutical companies, medical technology companies and their employees also have given munificently over the decades. In addition to cash, they have sent billions of dollars in product — from the most practical of needed healthcare goods to the most cutting-edge medical technologies — to every corner of the globe.
Giving in New Jersey
Here in New Jersey, HINJ member companies alone donated more than $638 million in 2014 to hundreds of nonprofit organizations that advance healthcare, education and culture throughout the state, according to a HINJ member company survey.
Responding to the needs of people and communities throughout New Jersey and the region impacted by Hurricane Sandy in late 2012, HINJ member companies have donated, to date, approximately $11.1 million in cash contributions and product donations. This figure does not include employee contributions or company matching-gift programs.
HINJ member companies made contributions to a large number of organizations, including the American Red Cross, AmeriCares, Direct Relief International, Feeding America, the Salvation Army, Save the Children, the United Way, and the Hurricane Sandy New Jersey Relief Fund.
Helping Hands, Helping Hearts
The life science industry’s spirit of giving goes beyond corporate donations. Employee volunteerism also is a hallmark of our industry.
From building houses for Habitat for Humanity, to conducting book drives, to supporting local food banks, employees are encouraged to participate in their communities — and they readily embrace the challenge.
HINJ…Shining the Light
HINJ is proud to be a part of an industry that is as committed and as generous as the life sciences industry.
For this reason, as we move forward, HINJ will develop this area of our Website to shine the light on how our member companies and their dedicated employees are contributing and making differences — here in New Jersey, across our nation and around the globe.
If you are a HINJ member company, please share your stories with us so that we, in turn, can share them on HINJ.org.
To view a frequently updated list of HINJ member companies’ CSR activities — including charitable giving, community involvement and green practices — click here.
For information or assistance, please contact HINJ Director of Communications Douglas Berger at 732-729-9619 or firstname.lastname@example.org.