Innovent's 2024 ESG Report Highlights Commitment to Innovation
Innovent's Commitment to Sustainable Development
Innovent Biologics, Inc. (HKEX: 01801), a prominent biopharmaceutical company, proudly announces the release of its 2024 Environmental, Social and Governance (ESG) Report. This comprehensive document underscores the company's dedication to sustainable development, detailing initiatives across five essential pillars: Excellent Governance, Enjoying Good Health, High Quality as Key, People First, and Embracing Ecology.
Leadership Vision and Achievements
Dr. Michael Yu, the Founder, Chairman, and CEO of Innovent, articulates the company’s strategic vision. He emphasizes Innovent's commitment to innovative healthcare solutions while ensuring that the principles of sustainability are integrated into their corporate culture. Under his leadership, Innovent achieved an MSCI ESG rating of AAA, standing out as the leading biotech company in this sector. This remarkable accomplishment is a testament to Innovent's dedication to high ethical standards and transparent governance.
A Robust Governance Framework
In 2024, Innovent continued to strengthen its governance framework, ensuring compliance with global standards while remaining responsive to industry changes. The company established a rigorous compliance management system and enhanced risk management processes. This commitment to governance is reflected in several key initiatives, such as:
- Board Diversity: Inclusion of a female Executive Director and diverse board committees.
- Mandatory compliance training for 100% of Directors and employees.
- All suppliers committing to ethical practices.
- The launch of a dedicated ESG website to inform stakeholders about our sustainability initiatives.
- Recognition for achieving an MSCI ESG rating of AAA.
Advancements in Healthcare
Innovent aims to address healthcare disparities through innovative therapeutics while establishing leadership in oncology. The company’s strategy, focusing on the discovery and delivery of revolutionary medicines, has resulted in:
- 15 commercialized products that have reached over 5 million patients.
- 3 New Drug Applications currently under review and multiple drugs in advanced clinical stages.
- The introduction of SYCUME® for treating thyroid eye disease, making a significant impact on patient care.
- Support initiatives to enhance drug affordability through inclusion in China’s National Reimbursement Drug List.
- Patient assistance programs benefitting over 200,000 individuals, along with extensive community outreach and educational initiatives.
Quality and Patient-Centric Practices
Quality and efficacy are paramount at Innovent. The company adheres to the highest international standards throughout the product lifecycle, demonstrating a consistent commitment to patient safety and satisfaction. With an extensive production capacity validated by strong regulatory compliance, Innovent is continuously increasing its output to meet global healthcare demands.
- All production facilities maintain 100% GMP certification.
- A remarkable 100% success rate in drug substance manufacturing.
- Continuous quality audits ensuring compliance with stringent industry standards.
Fostering a Supportive Workplace Culture
Innovent recognizes that its workforce is its greatest asset. The company fosters an environment of inclusivity and empowerment, which is essential for driving innovation. With numerous employee development programs, and a focus on diversity, they succeeded in achieving an impressive 96.8% talent retention rate.
- Women make up a significant portion of management, illustrating the company’s commitment to equality.
- Comprehensive benefits and development programs help cultivate an engaged workforce.
- Recruitment initiatives have provided significant opportunities for new graduates, enriching the talent pool.
Committed to Environmental Sustainability
Innovent's commitment to sustainability manifests in its environmentally friendly practices. The company implements measures to minimize its environmental impact while maintaining high production quality:
- All facilities are certified under ISO 14001, ensuring compliance with international environmental standards.
- A notable 29% reduction in energy consumption and a 22% decrease in water usage have been achieved year over year.
- Innovent’s Shanghai Global R&D Center is recognized with LEED Gold certification.
As Innovent moves forward, it remains dedicated to breaking new ground in biopharmaceuticals, blending business success with long-term social value and sustainability. The company aims to become a leading global biopharmaceutical firm by consistently delivering innovative solutions that empower patients around the world.
About Innovent
Innovent Biologics is a biopharmaceutical company founded in 2011, focusing on delivering affordable and high-quality medications. The company is committed to developing treatments for challenging diseases, illustrating its dedication to medical innovation and patient care. Innovent collaborates with several esteemed global healthcare organizations to advance its mission of enhancing health accessibility worldwide.
Frequently Asked Questions
What is the focus of Innovent's 2024 ESG Report?
The report emphasizes Innovent's commitment to sustainable development across various pillars such as governance, health, quality, people, and ecology.
Who is the CEO of Innovent Biologics?
Dr. Michael Yu is the Founder, Chairman, and CEO of Innovent Biologics, guiding the company's strategic vision.
What achievements did Innovent accomplish in 2024?
Innovent achieved an MSCI ESG rating of AAA and made significant advancements in drug development and patient support programs.
How does Innovent address healthcare disparities?
Innovent focuses on innovation and accessibility, launching products that are included in reimbursement programs to support diverse patient needs.
What measures is Innovent taking towards sustainability?
Innovent implements eco-friendly practices and has set clear targets for environmental performance, achieving certification under ISO standards.
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