In the contemporary pharmaceutical industry, pharmaceutical companies demonstrate corporate responsibility and sustainability through environmental, social and governance (ESG) practices. The Patient Support Program (PSP) is an important way to practice ESG values, which not only reflects the company’s concern for patient well-being, but also demonstrates the company’s commitment to social responsibility.
A recent Patient Opinion Survey report on the practice of ESG in pharmaceutical companies reveals the progress and challenges faced by the pharmaceutical industry in integrating ESG values into its core operations. Patient’s perspective is crucial for the evaluation of a pharmaceutical company’s ESG policy, as it reflects the direct impact of ESG practices on society.
Of the hundreds of comments the investigators received from the patient groups surveyed, only a handful of patient leaders described the pharmaceutical companies’ ESG activities as directly related to patients, and more as just a way for pharmaceutical companies to attract ethical credibility. However, from the recent ESG reports of pharmaceutical companies, it is more patient-centric.
Now more than ever, pharmaceutical companies should expand their ESG responsibilities to be seen as key players in the broader response to social and environmental challenges, not just for the provision of medical products. The expectation is that the pharmaceutical industry will not only provide medicines, but also deliver them in a way that is sustainable, ethical, and responsive to the needs of diverse patient populations.
In ESG news coverage, biopharma investors highlighted several key areas of particular attention for ESG communication initiatives, including healthcare accessibility, ethical business practices, and environmental stewardship. These recommendations are instructive in helping pharmaceutical companies prioritize their ESG practices, ensuring they respond to the most pressing issues facing society.
Environment
Pharmaceutical factories are practicing environmental protection, which is mainly reflected in the reduction of drug waste production, the promotion of green packaging and the implementation of environmentally friendly drug distribution systems. Pharmaceutical companies can reduce the carbon footprint of their products by employing recyclable materials and reducing the size of their packaging. In addition, by digitizing patient education data and virtual virtual medical conferences, pharmaceutical representatives and marketers can further reduce the need for paper and travel, thereby reducing their environmental impact.
Social Responsibility
Pharmaceutical companies are practicing social responsibility, mainly in improving drug accessibility, supporting disease education and providing personalized patient care, through social insurance drug supply and patient support programs, pharmaceutical companies can provide drug assistance to economically unequal patients, and ensure that more patients can get the necessary treatment. In addition, pharmaceutical companies can also improve patients’ quality of life by providing disease education and health management resources to help patients better understand their condition and master self-management skills.
Good Governance
Pharmaceutical companies must adhere to the principles of transparent and responsible governance in the execution of drug marketing. This includes ensuring that implementation complies with all relevant laws and regulations, and maintaining transparency in operations through regular audits and reports. Pharmaceutical companies should also ensure that all communication and interactions with doctors and patients are based on medical needs, avoiding any possible conflicts of interest, so as to protect the interests of patients.
On the other hand, there is a growing focus on whether patient support programs are aligned with ESG goals. These programs play an important role in ensuring that patients not only receive the medical treatment they need, but also the comprehensive support they need to effectively address the challenges of their disease. The patient advocacy group called for an integrated ESG approach for the pharmaceutical industry to adopt an approach that encompasses patient support as well as broader corporate responsibility, highlighting pharmaceutical companies demonstrating their commitment to social well-being and environmental sustainability in response to growing health needs.
As the industry moves forward, the ability of visible pharmaceutical companies to clearly demonstrate their ESG commitments through concrete data and results will be key in the future. This includes demonstrating efforts not only to reduce environmental impact through production and transportation, but also to improve patient access to medicines, as well as integrating social impact practices that reflect the diversity of patient needs. The future of patient support in the pharmaceutical industry is likely to be defined by a patient support approach that integrates ESG value points, ensuring that patient well-being responds more holistically not only through medical treatment, but also through sustainable and corporate social responsibility practices.
Zhang Xiangxin, General Manager of PATIENTSFORCE Caihong Health Integration Group
