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Government to toughen CSR standards for innovative pharmaceuticals
  • By Constance Williams
  • Approval 2017.07.17 17:37
  • comments 0

The Ministry of Health and Welfare said Monday that it would push for strengthening the standards for innovative pharmaceutical companies’ corporate social responsibility and ethics.

“As it is unreasonable to give preferential treatment, R&D priority, and tax benefits to companies with low social ethics -- as seen by a top manager’s verbal abuses against his chauffeurs at an innovative pharmaceutical company -- the government has decided to review criteria for certifying corporate social responsibility and ethicality,” the ministry said.

ChongKunDang Chairman Lee Jang-han makes a deep bow after apologizing for his verbal abuses of his chauffeurs, at the company

The ministry has certified innovation-oriented pharmaceutical firms to help enhance their global competitiveness since 2012, based on six standards -- excellence in human and material input resources, excellence in research and development activities for new drugs, excellence in technological and economic results and contribution to advancing public health, corporate social responsibility and ethicality, and other matters announced by health-welfare minister.

Among these, the specific indicators of corporate social responsibility and ethics have been mostly concerned with social contributions and administrative disciplines on distribution and marketing orders of medicinal products, and the ministry has not specified detailed indicators for unethical acts, such as verbal abuses of employees.

Now the ministry plans to add specific indicators and standards to strengthen corporate social responsibility and ethics, and to apply it to new and re-certification of innovative companies from as early as next year.

"By improving the system, we will certify only pharmaceutical companies with high social responsibility and ethics as innovative drugmakers, enhancing public confidence and ultimately contributing to strengthening the global competitiveness of drug companies,” a ministry official said.

connie@docdocdoc.co.kr

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