ExxonMobil Welcomes New Pediatric Drug to Fight Malaria
IRVING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE:XOM) today welcomed the announcement by Medicines Malaria Venture (MMV) and Novartis of the development of the world's first malaria drug for children, Coartem Dispersible. ExxonMobil has provided $3 million in funding to MMV, including $1.5 million in specific funding for the development of the drug.
"Through our operations in Africa we became aware of the unacceptable human toll of malaria on families and especially children. ExxonMobil is proud to have played a role in this exciting and significant new development in the battle against malaria," said Rex W. Tillerson, chairman and chief executive officer of ExxonMobil.
Tillerson said that ExxonMobil's efforts against malaria are focused on saving lives through the acceleration, development and delivery of new medicines and vaccines and the distribution of bed nets. He will be speaking at a panel discussion on malaria at the World Economic Forum in Switzerland on January 30.
Coartem Dispersible is an easy-to-administer, sweet-tasting, child-friendly formulation that provides effective treatment for children with malaria. It is the first pediatric malaria drug to be recognized by the World Health Organization.
ExxonMobil is the largest non-pharmaceutical corporate donor to malaria research and development efforts, and since 2000 has committed $130 million to Africa community outreach programs, including $54 million on programs to fight malaria.
The company established its Africa Health Initiative in 2000 in support of the Abuja Declaration on Roll Back Malaria in Africa and its goal to halve malaria deaths by 2010. Since then, ExxonMobil has developed on-the-ground public-private partnerships to fight malaria at the community level, progress treatment and vaccine research and raise awareness and international support, and contributes to anti-malaria efforts in more than 20 African countries.
Malaria is a life-threatening disease caused by a parasite and transmitted to humans by the bite of a mosquito. With between 1 million and 3 million deaths annually and 3,000 children deaths daily, it remains one of the globe's leading infectious killers. The majority of its victims are children under the age of five and pregnant women.
About Exxon Mobil Corporation
Exxon Mobil Corporation and ExxonMobil Foundation, the primary philanthropic arm of Exxon Mobil Corporation in the United States, engage in a range of philanthropic activities that advance education, health and public policy in the communities where ExxonMobil has significant operations. In the United States, ExxonMobil supports initiatives to improve math and science education at the K-12 and higher education levels. Globally, ExxonMobil provides funding to improve basic education and combat malaria and other infectious diseases in developing countries. In 2007, together with its employees and retirees, Exxon Mobil Corporation, its divisions and affiliates, and ExxonMobil Foundation provided $207 million in contributions worldwide. Additional information on ExxonMobil's community partnerships and contributions programs is available at www.exxonmobil.com/community3.
Source: Exxon Mobil Corporation
Released January 27, 2009