We are committed to improving health and well-being around the world. From developing new therapies that treat and prevent disease to helping people in need, we are guided by a rich legacy and inspired by a shared vision.
Our company’s core values are driven by a desire to improve life, achieve scientific excellence, operate with the highest standards of integrity, expand access to our products and employ a diverse workforce that values collaboration.
Our corporate responsibility approach is aligned with the company’s mission and values and articulates how we see our responsibilities in the areas of access to health, ethical and transparent business practices, environmentally sustainable operations, scientific advancement, employee wellness, and value creation for our shareholders.
Since successfully managing social, ethical and environmental issues involves all employees, we have established a companywide corporate responsibility framework, as well as a list of key performance indicators to measure our company’s performance and progress in our areas of strategic focus.
Integrated into our approach to corporate responsibility is also a commitment to constructive engagement with stakeholders. We recognize that issues that matter to key stakeholders can very quickly become material issues for our shareholders. So we seek to balance our responsibilities in ways that support our fiduciary duty to generate long-term shareholder value, while also considering the needs of other stakeholders. Learn more about our stakeholder engagement process.
Corporate responsibility is at the heart of our company’s mission to discover, develop and provide innovative products and services that save and improve lives, and it underscores our commitment to developing and rewarding our employees, protecting the environment, and operating with the highest standards of ethics and transparency.
These commitments help us to deliver long-term returns by pursuing opportunities where the need is great and where we have unique capabilities to make a real difference in people’s lives. Through innovative research, groundbreaking partnerships and smarter processes, we are focusing on four priority areas: Access to Health, Environmental Sustainability, Employees, and Ethics & Transparency.
About This Report
As part of our commitment to being transparent about our corporate responsibility initiatives, including our business activities and operations, we publish an annual corporate responsibility report.
This report covers our company’s corporate responsibility activities and progress as of December 31, 2014, with some additional information relating to 2015, and updates the 2013 report published in August 2014.
We have sought to provide a comprehensive view of how our company works, and have focused on what is most important. As much as possible, we have guided readers to where they can go for more information, including our corporate headquarters’ website and our annual financial reports.
We use several external guidelines and measurement frameworks to inform the scope of our reporting. These include the Global Reporting Initiative (GRI), the Access to Medicine Index, the Millennium Development Goals and the 10 principles of the UN Global Compact.
In 2014, we completed a formal corporate responsibility (CR) materiality assessment to understand our economic, environmental and social impacts to identify stakeholder expectations regarding our performance and to help further refine a corporate responsibility strategy that aligns with our company’s business strategy. We plan to engage stakeholders on an ongoing basis to support this journey and help us deliver greater value to society and to our business. Going forward, our reporting will be more closely aligned with the GRI G4 guidelines on the basis of the top issues identified during the CR materiality process.
We have also published an executive summary that is available to view or download as a PDF.
In this report, we define where we do not report metrics as follows: NA = not available; N/D = no data; N/R = not reported. Data in this report relate to worldwide operations for the calendar year 2014, except where stated. We plan to publish our next comprehensive corporate responsibility report in 2016.
On October 1, 2014, the company divested its Consumer Care segment (MCC), which developed, manufactured and marketed over-the-counter foot care and sun care products.
There have been no other significant changes from previous reporting periods in the scope, boundary or measurement methods applied in this report. Acquisitions and divestitures are thoroughly discussed in the company’s 2014 10-K.