International experience in implementing the strategy of sustainable development by leading pharmaceutical companies

Abstract

Aim. To study international experience in implementing sustainable development strategies by pharmaceutical companies, identifying key elements of their strategies and mechanisms to achieve sustainable development goals.

Results. Sustainable development, which involves a balanced interaction of economic, social and environmental factors, is defined by the UN as a basis for the formation of strategies at macro, meso and micro levels. It has been investigated that leading pharmaceutical companies of the world have for a long time laid the foundations of sustainable development as a basis for their strategy and consistently follow them. Based on the monitoring the official web pages of the pharmaceutical companies – leaders in the industry ranking of the Dow Jones index – it has been found that they pay significant attention to sustainable development, highlighting a separate section on the sites and systematically publishing sustainable development reports (non-financial reports). The main purpose (mission) of such companies is integrated into business processes, correlates and is clearly linked with the goals of sustainable development. Among the priorities of the business (business strategies) are especially highlighted: focus on the patient, ethics and transparency, the advantage in science, the protection of the environment. All mechanisms for implementing the strategy of sustainable development are coordinated and aimed at realization of specific goals of sustainable development: development of innovative medicines and vaccines; improving public access to health care and drugs; protection of drug safety through pharmacovigilance; compliance with the ethical code; effective management of the environment throughout the life cycle of the drug creation of a comfortable place of work of workers and increase their qualification; ensuring gender equality in managerial positions; development of
innovations through cooperation with scientists and universities and others.

Conclusions. As the experience of leading pharmaceutical companies, compliance with sustainable development strategies enables them to improve the efficiency of activities they demonstrate higher income in the long term and are the market leaders make a huge contribution to the industry and benefit society as a whole.