As for every company, not only in the pharmaceutical sector, governance issues are an important factor. Key governance concerns for pharmaceutical companies can include corruption prevention, oversight structures and strong compliance systems. We are continuously working on building up our oversight and disclosure structures to further enhance outside trust in the company.
In 2020, Cheplapharm published a Code of Conduct that lays out the most important compliance rules and proceedings that all employees have to agree to. This includes –but is not limited to – the protection of IP rights, the prevention of insider trading and corruption. Also, the company has set up a whistleblower system where Cheplapharm employees and those in our value chain can report wrongdoings anonymously. They can do so using a 24/7 hotline that is available in German and English or via E-Mail.
Of the suppliers who answered in our initial supplier survey, all reported to follow an internal anti-corruption policy and to have a code of conduct. 71%1 indicated to have an anonymous whistleblower system in place. To keep pace with the growing business requirements of Cheplapharm, the board size has been increased in March and April from four to six members. Also, an external advisory board has been set up to oversee the actions of the Management Board in a consultative function.
"We are aware of our responsibility for sustainability issues - and are working hard towards minimizing environmental and social risks in our business."
- Good Distribution Practice (GDP)
- Good Manufacturing Practice (GMP)
1 Corresponding to a total buy volume of 26.24%