Strategy for corporate social responsibility

Definition

Sopharma Group has an active and crucial role in raising living standards and human health. The policy of Sopharma Group expresses the views and commitments for the future development and improvement of the business by maintaining high quality products and services, protecting the environment, ensuring healthy and safe working conditions, security of information and responsible corporate behavior of companies to stakeholders — investors, partners and end users.

For the effective realization of its vision, values and goals, Sopharma Group focuses its efforts on continuous improvement of its activities, processes and services, monitors the economic, social and environmental footprint of its activities, which allows to take action to reduce the negative impact and to increase resilience.

Guarantee for fulfillment of all stated goals is the construction, maintenance and continuous improvement of the quality management system, environment, health and safety at work, good production and distribution practice, information security in accordance with the requirements of international standards.

Economic and financial indicators are proof of the success of the business model, complemented by adequate CSR policies, confirming the Group’s reputation. The companies in the Group are working to achieve the UN SDG 2015.

CSR policies and initiatives are set up in accordance with important stakeholder topics, approved by the Key Management Personnel (described below in the Declaration) and reported to shareholders mainly through the Annual Reports and General Meetings.

Sopharma Group actively communicates with all stakeholders through the appropriate channels.

Policies and specific projects are targeted in four main areas:

  • Market
  • Stakeholders
  • Environment
  • Society

You can find a description of the projects in the Spheres of Non-Financial Report section.

Responsible business and Transparency

Transparent and responsible business is the only way to build a sustainable reputation and to empower the society.

In the business strategy of "Sopharma" AD there is zero tolerance for any kind of corruption, employees are expected and required not only to act in a ethical manner, but also to combat corruption. We interact with all levels of government with our stakeholders and therefore have the right and responsibility to express our position of a corporate citizen.

CSR management

Corporate Responsibility is embedded in the Group’s mission, vision, and strategy for development and corporate governance documents for the companies.

Organizational CSR is the subject of the corporate responsibility, investor relations, marketing, human resources, ecology.

Membership

For the adequate creation and implementation of sustainable development policies, Sopharma Group works with partner organizations such as CEIBG, BMGD, BCAUSE Foundation, Bulgarian Public Relations Association, European Association of Communication Directors, Association of Investor Relations Directors and others.

The companies in Sopharma Group are members of various organizations and associations:

  • Confederation of Employers and Industrialists in Bulgaria (CEIB). http://ceibg.bg/
  • The German-Bulgarian Chamber of Commerce and Industry (GBITC), which connects the German and Bulgarian economies with more than 450 German, Bulgarian and international companies.http://bulgarien.ahk.de/bg/
  • AmCham. The American Chamber of Commerce in Bulgaria brings together over 300 US, Bulgarian and international companies operating in the country from all sectors of the economy. All members of AmCham share a common vision of corporate social responsibility, with good corporate reputation being one of the most important membership criteria.www.amcham.bg
  • The Bulgarian Generic Pharmaceutical Association (BGFARMA) whose priorities are to harmonize the interests with regard to the common national and international mechanisms regulating the production and use of medicines, to improve the application of the principles of Good Manufacturing Practice and to observe the principles of fair competition.http://www.bgpharma.bg
  • The Bulgarian National Committee of the International Chamber of Commerce, accepted as a full member of the International Chamber of Commerce (ICC). ICC is the most prestigious organization in the field of international trade and international economic relations that promotes cross-border trade and investment.http://www.icc-bulgaria.bgwww.iccwbo.org
  • The National Commission on Corporate Governance, established for the purpose of promoting the implementation of good corporate governance practices and the development of the Bulgarian National Code of Corporate Governance (the Code). The Commission is a permanent independent body set up under the auspices of the Bulgarian Stock Exchange (BSE) and the Financial Supervision Commission (FSC), with the support of the World Bank and the International Financial Corporation (IFC) www.nkku.bg
  • The Bulgarian UN Global Compact Network http://www.unglobalcompact.bg
    • As an active member of BMGD, Sopharma is working towards the achievement of the UN sustainable development goals adopted in 2015.
  • Bulgarian Association of Drug Wholesalers ("Sopharma Trading" AD) — The mission of the Association is to ensure fair and transparent drug delivery and provision of services in the pharmaceutical sector in Bulgaria. It protects the branch interests and rights of its members before state authorities, institutions and producers — www.batel.bg
  • Genezis ("Sopharma Trading" Serbia) — The Genezis Association brings together generic manufacturers of generic medicines and holders of a marketing authorization in the Republic of Serbia — www.genezis.rs
  • The Serbian Association of Drug Wholesalers — The mission of the association is to ensure fair and transparent drug delivery and service provision in the pharmaceutical sector. It protects the branch interests and rights of its members before state authorities, institutions and producers.
  • Member of the National Alliance for Local Economic Development NALED Serbia Independent, non-financial and non-party organization of companies, municipalities and civil organizations working together to create better working and living conditions in Serbia.
  • MediReg Pharmaceutical Consulting — supports the efficient launch of new products in the Polish market and ensures regulatory compatibility and pharmacovigilance.
  • The "FARMACJA POLSKA" Chamber of Commerce.

Commitment to stakeholders

For Sopharma Group an interested party may be any group which is directly or indirectly related to the Group’s activities, which has the potential to exert an influence on the decision making process regarding the company’s business development as a socially responsible organization.

Stakeholder relationships are a indicator of the success rate of the Group, its place in the economic and social life of the country, and the correct direction of development.

The Group maintains a continuous open dialogue with all stakeholders through various communication channels depending on the target group: the official website of the group www.sopharmagroup.com, the corporate media of the individual companies, official announcements to the BSE, meetings with investors, social networks.

  • Patients and end users: daily through product sites, official sites of group companies; group site www.sopharmagroup.com; company profiles and their social networking brands;
  • Shareholders: General Meetings of Shareholders; notifications; meetings; official corporate sites; the Group’s site; annual reports;
  • Government and local authorities: participation in annual meetings of the business; roundtables, discussion forums dedicated to the pharmaceutical sector; official sites of the state and local authorities, control bodies; official corporate media.
  • Partners in the chain: software solutions for pharmacies and consultancy services; free edition for "Sopharma Trading" AD customers — "Pharma Premium", intended for owners and pharmacists of pharmacies; sites of the companies in the group.
  • Employees: intranet page; social networking company profiles; corporate sites; site of the Group.