For sustainable development at Taj
Pharmaceuticals
Taj Pharmaceuticals subscribes to the principle of sustainable
development as the basis for successful, forward-looking business
activities. Taj Pharmaceuticals accepts the definition of the
Brundtland Report, published, that development is sustainable if
it 'meets the needs of the present without compromising the
ability of future generations to meet their own needs'. Taj
Pharmaceuticals is conscious of the dynamic interdependence of
economic, social and environmental interests and seeks to
reconcile them in its daily business activities. To reach this
goal as efficiently as possible, we have set the following
priorities to guide us in our progress towards sustainable
development.
Corporate Governance - acting transparently and responsibly :
Taj Pharmaceuticals places great importance in the systematic,
group wide implementation of its corporate principles and
corporate governance guidelines. Management has set itself the
task of ensuring compliance with these principles in all
activities and in all subsidiaries. It is supported in this task
by the internal audit department and by the Compliance Officer.
Consistent implementation and compliance in all business areas and
functions is also monitored by the Audit and Corporate Governance
Committee of the Board of Directors, as well as by the ongoing
reporting activities of the internal audit unit and the Compliance
Officer. The rules and corporate principles are regularly reviewed
to ensure that the Group continues to be managed responsibly and
in keeping with the goal of long-term value creation.
Access to healthcare - our contribution as a research-based
healthcare company
Our principal contribution to society is to continue committing
substantial resources to long-term research and development aimed
at creating diagnosis and treatment options to address the many
unmet health needs facing mankind. Taj Pharmaceuticals pursues a
transparent pricing and patents policy that is designed to give
people in the world's poorest countries access to our medical
services and products. Insofar as its resources permit, Taj
Pharmaceuticals is also prepared - now and in the future - to make
significant contributions to the alleviation of suffering. For
many years Taj Pharmaceuticals has supported numerous medical
projects in Third World countries. These include the former SIGHT
AND LIFE and Life project to combat blindness and the Phelophepa
Health Care Train in South Africa. The success of such projects,
however, hinges on the support of competent local partners and on
the existence of a minimum in medical infrastructure.
Research - our strength :
Innovation is at the heart of Taj Pharmaceutical's long-term
success. From the start, Taj Pharmaceuticals has been committed to
being an innovator at the forefront of medical discovery. Helped
by key leading-edge technologies, a steadily expanding global
research network and targeted alliances, we are working to develop
highly specific treatments that target the underlying causes of
disease rather than the symptoms. Our goal is integrated solutions
as part of a comprehensive approach to healthcare delivery that
takes effect before a disease can gain the upper hand. This
approach contributes to achieving sustainable development since
all associated activities are performed within a framework of
strict ethical and legal principles.
Economic performance - in everyone's interest :
We want to consistently create value and secure our long-term
profitability. This is essential if we are to undertake the
investments in research and development which, although inevitably
entailing risk, are needed to ensure continued growth, attractive
employment opportunities, a fair return on invested capital,
generosity towards the community and - not least - entrepreneurial
freedom.
Our employees - success depends on them :
Highly motivated and qualified employees are crucial for Taj
Pharmaceuticals. That is why Taj Pharmaceuticals attaches great
importance to a performance culture that rewards employees for
their success and encourages each and every one of them to improve
further. We constantly ensure that our employees have
opportunities to develop their knowledge and skills - through
on-the-job training or by attending one of our wide range of
courses, for example. Taj Pharmaceutical's family support and
equal opportunity guidelines, in-house welfare and health
programmes and an attractive range of workplace enhancement
facilities show how seriously the company takes its obligations
towards its employees. By stepping up our efforts to publicise
sustainable development, we intend to reach and engage with even
more employees and motivate them to support us in our efforts to
achieve this goal.
Social responsibility - an obligation that is part of the Taj
Pharmaceuticals tradition :
Social responsibility has a long tradition at Taj Pharmaceuticals.
For over a century the company has been working to improve
healthcare worldwide. We encourage our employees to make a
personal commitment to society. In addition to supporting
humanitarian projects aimed primarily at helping needy people in
the world's poorest countries, we sponsor science and the arts in
the belief that they, too, contribute significantly to the quality
of life.
Safety and environmental protection - our expertise is undisputed
:
Safety and environmental protection are key issues at Taj
Pharmaceuticals: only by making continuous and demonstrable
progress in these areas can we make a measurable contribution to
sustainable development. We thus regard protection of people and
the environment not merely as a national or social obligation but
as part and parcel of our corporate activities.
Decentralised structures - Taj Pharmaceuticals relies on local
expertise :
Implementing the principles of sustainable development impacts all
Taj Pharmaceuticals activities and concerns all Taj
Pharmaceuticals companies worldwide. In putting these principles
into practice, Taj Pharmaceuticals wants to rely as far as
possible on local expertise and responsibility. It is up to local
managers to define priorities and deploy the most suitable means
for addressing them at each site. In line with Taj
Pharmaceutical's corporate culture, these local structures are
being strengthened, so that they can make efficient use of their
resources to create sustainable development solutions that meet
local needs.
Quality
For sustainable development at Taj
Pharmaceuticals
