sayali wadke’s Post

At Teva, we know that providing medicines is an important job—and conducting business ethically and responsibly is non-negotiable. In 2021, we trained 20,000+ employees on ethics (99.6% of those assigned), published three new position statements on patient safety, responsible supply chain and risk management, and ranked in the top 1% in our industry in the @EcoVadis sustainable procurement assessment—as we consider our supply chain partners to be an extension of our company. Find our latest #governance highlights in our 2021 ESG Progress Report: https://lnkd.in/d5zjiN_S #ESG #sustainability #environment #ethics #socialimpact #Tevapharm #TevaESG

The pharmaceutical industry faces challenges in standardizing and reporting progress on environmental sustainability. Discrepancies exist between companies with strong climate-focused sustainability strategies and those lagging behind. However, regulatory developments in Europe and the U.S. are rapidly reshaping the industry's mindset by shifting from a duty of reporting to a duty of effort and progress. Strong legal strategies are now critical for pharma companies to navigate evolving environmental regulations and emerging business incentives. As more countries implement regulations requiring climate-related risk disclosure, a robust legal framework is essential for pharma companies to adapt and thrive in this changing landscape. At OLIVARES, we boast a team of specialists ready to advise companies aiming to seize opportunities in the evolving pharma landscape. Our team is highly specialized in assisting companies in the Life Sciences industry, and we are prepared to help organizations maximize their potential in the face of environmental regulatory changes and emerging business incentives. Visit our website to learn more about how we can assist you: https://lnkd.in/ekKAHhP #OLIVARES #OLIVARESLaw #Mexico #PharmaSustainability #EnvironmentalRegulations #LegalSupport #Regulatory #Pharma #LifeSciences

Champions uphold the highest ethics, making them true pathfinders in their actions.✨ May is the month of the ESG Marathon, featuring diverse ESG topics for various industry sectors. 🌍 Recently, we completed a session on External Providers Evaluation, led by an ESG trainer for process owners in a pharmaceutical firm. 💊 The ESG evaluation of suppliers begins with the supplier onboarding SOP and is linked to their ESG Materiality Assessment. 📋🔗 For ESG External Provider Assessment Sheet ping ⭐ #ESG #ESGSupplier #BRSR #ESGEvaluation #Sathyanarayananchampion #IINVTY #ISDE

Interesting article as always from PharmaSource regarding 2024's most pressing supply chain issues in the pharma industry. Certainly keen to hear the thoughts and comments from my supply chain network!

The most important Pharma supply chain issues revealed in PSCI - Pharmaceutical Supply Chain Initiative’s 2024 Materiality Assessment. The issues ranked highest for both financial impact & planetary impact include: - Anti-bribery and corruption – processes to prohibit corruption in the value chain - Pharmaceuticals in the Environment (PiE) and Anti-Microbial Resistance (AMR) – controlling the release of active ingredients, including those with the potential to lead to AMR. - Decarbonisation – reducing carbon emissions from the value chain. - Climate resilience – the resilience of supply chains to the weather and other changes that will result from a changing climate - Biosafety – containment of biological substances in a labour manufacturing context PSCI are the official sustainability partner to #CDMOLive Don't miss the interactive roundtable hosted by Robert Williams, PSCI Vice Chair & Director of Sustainable Procurement at AstraZeneca: Strategies for reducing scope 3 emissions with manufacturing partners Responsible lobbying – ensuring political engagement is transparent and aligned with the public interest. https://lnkd.in/dQifQ7nb

I’m #PfizerProud of our 2023 Annual Review and 2023 #Impact Report showcasing our individual and collective commitment to help ensure #quality, #integrity, and effective risk management in all that we do, as well as our ongoing commitment to accelerate scientific breakthroughs for human health. Learn more about the values that shape our operations, pursuit of excellence, and commitment to integrity—all of which help us realize our purpose of breakthroughs that change patients’ lives. Pfizer🌍     ➡️ Check out the 2023 Pfizer Impact Report: Pfizer.com/ImpactReport   #ESG #purpose #sustainability 

Environmental, Social, Governance, or #ESG, is more than just a buzzword; it's impacting the entire industry. The pharma and medical device industries face unique challenges in implementing ESG rules, particularly with the supply chain. In our 2024 Life Sciences and Health Care Horizons guide, our lawyers delve into the impact of ESG and what companies must consider now. #Horizons2024 #Pharma #MedicalDevices #SupplyChain

🌍 𝐏𝐡𝐚𝐫𝐦𝐚 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐄𝐔 𝐂𝐒𝐃𝐃𝐃 💊 The EU Corporate Sustainability Due Diligence Directive (CSDDD), approved on 24 May 2024, aims to ensure companies address human rights and environmental impacts in their value chains. 💡 𝐖𝐡𝐲 𝐒𝐡𝐨𝐮𝐥𝐝 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐞𝐮𝐭𝐢𝐜𝐚𝐥 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐚𝐲 𝐀𝐭𝐭𝐞𝐧𝐭𝐢𝐨𝐧? • 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐃𝐮𝐞 𝐃𝐢𝐥𝐢𝐠𝐞𝐧𝐜𝐞: Pharma companies must assess risks related to labor rights, environmental impacts, and ethical sourcing across their supply chains. • 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐚𝐧𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠: Regular reporting on sustainability practices will build trust with stakeholders and demonstrate commitment to ethical practices. • 𝐑𝐢𝐬𝐤 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: Proactively addressing potential risks can mitigate legal and reputational issues, crucial in today's focus on corporate responsibility. • 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲: Integrating sustainable practices can drive efficiency, reduce waste, and foster eco-friendly product development, providing a competitive edge. • 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐆𝐌𝐏 𝐅𝐚𝐜𝐢𝐥𝐢𝐭𝐢𝐞𝐬: This directive creates opportunities for GMP production facilities to leverage initiatives for sustainability, such as improving energy efficiency and reducing environmental impact. • 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐦𝐩𝐚𝐜𝐭: Multinational companies must align global operations with these standards, promoting worldwide sustainability. #Sustainability #Pharmaceuticals #EU #CSDDD #CorporateResponsibility https://lnkd.in/emyTRYmK

A responsible company must be able to rely on the fact that its entire supply chain respects the environment, human rights and labour laws. 🌎 Read our article to find out 💡 what is the biggest environmental challenge facing the pharmaceutical industry? 💡 how do we select and monitor our partners' activities throughout the supply chain? 💡 how have we succeeded in improving our energy efficiency and reducing our carbon dioxide emissions? #EnvironmentalResponsibility #ResponsiblyForward #Orion

🇪🇺 The EU will implement significant environmental reforms by 2024, impacting the pharmaceutical industry. These reforms aim for a greener future, protecting the environment and driving innovation. 🌱 The Environmental Risk Assessment (ERA) - Identifies potential environmental risks and adjusts production, commercialisation and disposal of medicines: 🔷 Key Aspects: 🌐 Article 22 affects non-European manufacturers who must comply with EU criteria. ⚙️ Risk minimization reducing environmental impact. 🚫 Shortage Issues that challenges for pre 2005 medicines without ERA. 📝 Authorities may request additional data. 🛠️ Use of existing data for easier assessment. 🇪🇸 Spain's commitment: "We aim for a carbon-neutral healthcare system by 2050," says Secretary of State for Health Javier Padilla at an interview with Diariofarma 🇬🇧 UK example: One of the measures in order to follow the environmental politics was the creation, in June 2023, of a Inter-ministerial team dedicated exclusively to pharmaceutical products with the objetive to reduce the environmental impact aligned with the concept of #OneHEalth. 🔷 Key provisions and impact: 🚫 If risks are not addressed, authorization may be denied. 🔬 Post-authorization for a continuous environmental safety checks. 🏷️ Verified environmental claims that must be independently verified. 🛡️ Directive (EU) 2024/1760 on corporate sustainability due diligence: 📰 Published on 5th July, approved by the European Parliament on 24th April. ⚖️ Effective 20 days post-publication. ⏱ Member States have two years to implement. 👤 Applies to companies with over 1,000 employees and €450 million turnover. 🏙 Implementation varies by company size. 🌐 Obligations on human rights and environmental impacts extend to subsidiaries and business partners. 🔶 Requirements: - Risk-based system to monitor and remedy damages. - Climate transition plan aligning with the Paris Agreement. - Ensure human rights and environmental compliance across operations. 🔍 Original text: https://bit.ly/4f2E95B ➡️ Considerations: 🟢 Impact and benefits: 🤝 Transparency and trust to increase consumer confidence. ⚖️ Fair competition to combat misleading practices. 🔴 Risks: 💰Higher development and manufacturing costs could limit investment in new products. 📉 Shortages issues for pre 2005 medicines without ERA. 🏢 Smaller companies could struggle with compliance. ⏳ New requirements could slow down approval and commercialization, hindering innovation. #Sustainability #Environment #Pharmaceuticals #ERA #Innovation #EU 🔗 References: - https://bit.ly/3WjGO3M - https://bit.ly/3Y1QocQ - https://bit.ly/3Y3hfVR - https://bit.ly/3Y9nUxA - https://bit.ly/3W62sa7