Henderson's selected Novo Nordisk as one of five sector leaders
- October 2003
In a report issued in September on the world's leading pharmaceutical companies (top 20), Henderson Global Investors has selected Novo Nordisk as one of five sector leaders. Although not among the world’s largest pharma companies, Novo Nordisk was included in the analysis due to our company’s reputation for social responsibility. Novo Nordisk’s strategic vision of corporate responsibility is highlighted, whereas the report concludes that the industry as a whole has a "responsibility deficit" that remains to be closed.
The report is the result of a three-stage survey by Henderson’s SRI team to understand the scale of the challenges facing the sector, identify where best practice currently exists, and develop an agenda for shareholder engagement. It builds on analysis and discussions that the SRI team has conducted with financial analysts, company representatives, and other stakeholders.
Henderson: Change is needed
A step change in the pharmaceutical sector’s commitment to corporate responsibility is necessary if its long-term prosperity is to be guaranteed. This is one of the main conclusions in the report, which deals with the strategic sustainability, corporate responsibility, and ethical challenges facing the global pharmaceutical industry.
For decades, the pharmaceutical industry has helped to radically improve healthcare as well as generate large profits for investors. However, it is under pressure from a number of directions - not least the rising expectations of the sector's wider responsibilities to society.
Henderson has identified five near-term priorities where positive action could help secure the industry’s future:
- Embedding corporate responsibility in governance systems
- Transforming business ethics performance and assurance
- Demonstrating leadership in addressing global health disparities
- Engaging with society on innovative genetic technologies
- Establishing a common reporting framework
Nick Robbins, Head of SRI Research, argues: “Addressing these priorities is critical both for business prospects and for the sector’s contribution to society. Implementing them could help fulfill the industry’s potential as a vital component of a sustainable and prosperous future. We want to work with companies and other stakeholders to make this happen.”
For more information, please visit www2.henderson.com
