Vertex Announces $500 Million Corporate Giving Commitment

Vertex Announces $500 Million Corporate Giving Commitment

Boston-based Vertex Pharmaceuticals has announced a ten-year, $500 million corporate giving commitment focused on providing patients and caregivers with access to its medicines; expanding its commitment to science, technology, engineering, arts, and math (STEAM) education; and investments in its communities.

A total of $50 million will be earmarked for STEAM education initiatives, with a focus on underserved and female students. The company also will extend for another ten years a collaboration with the Boston Public Schools that provides students with access to Vertex's learning lab, mentoring and internship opportunities, and four-year scholarships to the University of Massachusetts. In addition, the company will commit funds in support of the cystic fibrosis patient community around the world; the development of young physicians and scientists; and Vertex communities, with a focus on the innovation ecosystem and youth health and wellness.

As part of the commitment, the company also has established, with an initial contribution of $10 million, the Vertex Foundation, which will be launched in 2018 and, among other initiatives, will match employee donations to qualified nonprofit organizations.

"Giving back is part of who we are at Vertex — it's in our DNA," said Jeffrey Leiden, the company's president, chair, and CEO. "This new ten-year commitment will provide many more opportunities for Vertex and its employees to make a difference in the lives of people with serious diseases and those living in our communities."

"Vertex Announces 10-Year, $500 Million Corporate Giving Commitment." Vertex Pharmaceuticals Press Release 10/17/2017.