A global drug maker has donated $2 million to the N.C. Cancer Hospital.
The gift comes from sanofi-aventis, a Paris-based drug manufacturer that has long funded cancer-related initiatives at UNC Chapel Hill. The N.C. Cancer Hospital is a new facility on the UNC-CH campus, a massive expansion of its clinical cancer operations. The $2 million will go into the hospital's endowment, to be used for new clinical programs, research and patient and family support services.
With the donation, the hospital's endowment is worth nearly $4 million. Generally, universities spend about 5 percent of their endowments each year, which means the sanofi-aventis donation will provide about $100,000 a year.
While endowment donations are often used to pay for facilities expansion, the new, $207 million cancer hospital was funded by the state. Thus, its endowment will be used solely for research and support programs.
"At a time of financial stress when other states are pulling back on health care, North Carolina is stepping up, and so is private industry," said UNC-CH Chancellor Holden Thorp Monday during a brief ribbon-cutting ceremony at the hospital.
A high-tech conference room at the hospital is being renamed for the drug company.
For more on the donation, click here.
Comments
This is the same firm from
Mon, 12/21/2009 - 15:14 — nancyncThis is the same firm from france busy buying up US pharma companies.
Ya, they're anxious to build good rapport as they buy up US companies as we see prices go up for generics, thanks to our congress. They dropped the protection for generic pricing, so generics will now go into the high price ranges. Essentially killing the generic industry.