By Kathryn Hardison


Gilead Sciences Inc. said it is contributing $85 million to its foundation to bolster efforts in advancing health equity.

The company's donation to the Gilead Foundation builds on an endowment it announced last year to recapitalize the foundation with the mission of creating impact through a culture of giving, engaging with local communities and exploring approaches to social issues.

The company said the Gilead Foundation will announce an inaugural cohort of grants in the fall with the focus of addressing systemic barriers to equitable education for underserved and excluded adolescents.

Shares of the biopharmaceutical company were trading at $61.60 after midday, down almost 1% for the day and 15% lower for the year.


Write to Kathryn Hardison at kathryn.hardison@wsj.com


(END) Dow Jones Newswires

07-20-22 1301ET