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April 07, 2015

Eli Lilly's Giving Shift Mixes Business and Social Goals

Pharmaceuticals firm Eli Lilly and Company is remaking its philanthropic strategy, concentrating more of its giving in areas that can serve the company's financial interests as well as meeting its mission of improving health, the Indianapolis Business Journal writes.

While still contributing to local organizations and donating medicines, the Indianapolis-based firm has, in the last four years, shifted its philanthropic emphasis to what it calls shared value. For example, the firm has spent $30 million to help improve health-care systems in developing countries that can provide new markets for its products. 

"These are the kinds of things that lift up whole systems and whole communities, and we can benefit from that," Rob Smith, president of company's charitable foundation, said.