In our weekly Trends that Matter series, we provide engaging infographics from healthcare influencers to highlight general trends affecting the pharmaceutical industry. This week's featured topic is the industry's contributions to global health.
Pharma organizations add value to global health causes through research projects, immunizations, medical access, and partnerships. In recent years, corporate social responsibility (CSR) has become increasingly important to pharma companies. In a 2015 Global Health Report, Hayley Droppert studied the relationship between corporate social responsibility and multinational pharmaceutical firms.
This report found that firms who practiced corporate social responsibility experienced several positive benefits:
"Motivations offered by the firms [for engaging in CSR initatives] can be generalized into three interrelated categories: reputational benefit, competitive advantage and philanthropic health impact. Increasing access to medicines and treatments as a means to improving population health was the most commonly cited motivation for CSR endeavors in [lower and/or middle income countries] LMICs."
For example, the pharmaceutical industry makes substantial investments into research for Neglected Tropical Diseases. These investments reached $534 million in 2014, according to the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA).
In the graphic below, IFPMA illustrates several of pharma's contributions to global health and research projects: