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BREAKING NEWS


ACTIVISION CEO BOBBY KOTICK SAID HE WOULD CONSIDER LEAVING THE COMPANY IF HE
CAN’T QUICKLY FIX ITS CULTURE PROBLEMS, PEOPLE FAMILIAR WITH THE MATTER SAY



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GATES FOUNDATION BUYS STAKES IN DRUG MAKERS

By David Bank and Rebecca BuckmanStaff Reporters of The Wall Street Journal
May 17, 2002 12:01 am ET

Print

Text



The Bill and Melinda Gates Foundation has purchased shares in nine big
pharmaceutical companies valued at nearly $205 million -- an investment likely
to attract attention more for its symbolism than its size.

The foundation, the nation's largest with an endowment of $24.2 billion from
Microsoft Corp. Chairman Bill Gates and his wife, already is a major force in
international health issues, contributing $555 million in 2000 alone to global
health programs. The organization has emerged as a prominent voice in the debate
over how to supply cheaper drugs for AIDS and other diseases to poor countries.
At times, it has assumed the role of a broker between poor nations and drug
companies.

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