Sustainable business
To not jeopardize our operations, it is essential that we integrate environmental, economic, and social sustainability at all levels of our operations. We should be driven by an ambition to constantly improve our processes, quality systems, and take measures to prevent negative impacts from our operations. That we comply with current legislation and show responsibility, is our Sustainable business.
Environmental and climate impact
BioArctic applies the precautionary principle to reduce our impact on the environment and climate.
BioArctic has set climate targets for the company:
- Maintain 100% renewable energy in own operations (currently 100% solar power)
- Validate climate targets according to SBTi by 2026
- 65% CO2 reduction in the value chain by 2035
- Net zero by 2050
The company’s size and main research focus makes BioArctic’s carbon footprint relatively limited compared to the pharmaceutical industry as a whole. Greenhouse gas emissions are caused by local operations, business trips, and purchased services. A comprehensive emissions mapping is underway to understand the extent and is expected to be completed in conjunction with the reporting year 2024.
Partnerships and suppliers
BioArctic has a long-term partnership with Eisai for the development and commercialization of drugs for the treatment of Alzheimer’s disease. Eisai is responsible for clinical development, application for marketing authorization, and commercialization of the product for Alzheimer’s disease. We are proud of Eisai’s solid sustainability work.
Like large parts of the pharmaceutical industry, BioArctic uses contract manufacturers (CDMO) and consulting companies (CRO). BioArctic has as a principle to prioritize quality and all CDMO and CRO used are currently located in Western Europe and the United States. Extensive work is done when selecting partners where great importance is attached to cooperation, quality, and ethics. It is clearly stated in BioArctic’s management system that responsibility can never be delegated and there is systematic supplier follow-up for those who work with our drugs.
To clarify expectations of our partners, the company has developed a Code of Conduct for Suppliers. Within sustainability, there is still no systematic follow-up, but work has begun to have one in place in 2024.
Compliance
BioArctic’s Code of Conduct clarifies the company’s zero tolerance for corruption and bribery. The company encourages its employees to report inappropriate behavior to managers or HR and, in addition to an open conversation climate, the company has a whistleblowing service.
BioArctic believes that it is important to contribute to research and development. As a member of national industry associations such as the Swedish Pharmaceutical Industry Association (LIF), BioArctic is committed to following and upholding the EFPIA Disclosure Code, a set of guiding principles where pharmaceutical companies publicly publish value transfers to healthcare professionals and healthcare organizations. Reporting of value transfers is done annually on Lif’s website. We also follow the industry’s voluntary ethical regulations for information and marketing of medicines and regularly train our employees in the area.
BioArctic values the personal privacy of its employees, and it is also of the utmost importance that we handle all personal data in a correct way.