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Promoting good business ethics

Quality and excellence sit at the heart of Hikma, and we believe that a strong commitment to ethical values – such as integrity, honesty and transparency – is vital to our reputation and success. Building trust in our people and our business creates long-term value by helping to ensure our business remains relevant and sustainable.

Responsible business initiatives

World Economic Forum (WEF)

Hikma is constantly seeking to develop and strengthen its global partnerships and initiatives to stay at the forefront of advancing healthcare and human wellbeing. The WEF engages political, business and other leaders of society to shape global, regional and industry agendas. Our participation with international organisations from the public and private sectors is motivated by an ambition to act towards advancing global welfare. In 2016, Hikma became one of the WEF’s Health Industry Partners, with the objective of exploring new and improved ways of developing the standard of healthcare offered to patients around the world. 

As a partner, we participated in the WEF Industry Strategy Meeting which explored how to improve the level of healthcare offered to patients by global pharmaceutical and healthcare companies. In the session, participants engaged with policy makers, focusing on industry challenges and collaborations to enhance the quality of and access to healthcare. We also participated in the WEF Global Healthcare meetings, which engage healthcare leaders worldwide to explore and develop new solutions that move the global healthcare industry forward. Our participation in these events supports our aim to build stronger partnerships worldwide to reinforce our vision of improving people’s lives around the globe.

United Nations Global Compact (UNGC)

Members since 2007, we remain committed to the United Nations Global Compact. We continue to support and align our global operations with the ten UNGC principles, regularly reporting our alignment with the principles in the areas of human rights, labour standards, environment and anti-corruption. In 2016, we renewed our UNGC membership by submitting a Communication on Progress report for 2015. Participating in the UNGC’s Communication on Progress Report demonstrates our commitment to employees, our customers, our communities and patients. As a multinational business, we are committed to conducting our business ethically and to being an active partner in shaping a sustainable future.

Transparency & anti-bribery and corruption

B20 Anti-Corruption Working Group

As we continue working to promote responsible business through collective action, we joined the Business 20 (B20) Anti-Corruption Working Group (ACWG), which operates under the umbrella of the G20 international forum of governments. The ACWG focuses on helping companies to improve their ethical conduct. As part of this, Hikma co-chaired the Public Procurement Work Stream, which seeks to promote ethical practices across the governmental and private sectors, and we joined the Beneficial Ownership Team.

Partnering Against Corruption Initiative (PACI)

Hikma remains a founding member of the Partnering Against Corruption Initiative (PACI), an off-shoot of the WEF. PACI is a leading business voice on anti-corruption and transparency and is one of the WEF’s strongest cross-industry collaborative efforts. Driven by interests of member companies, PACI undertakes initiatives to address global issues in anti-corruption and compliance. We renewed our commitment in 2016 for zero tolerance of corruption or bribery across any and all of our operations.

Modern Slavery Act (MSA)

Hikma is committed to ensuring that ‘modern slavery’ in the form of forced or compulsory labour and human trafficking does not take place in any of its businesses or supply chains across the globe. Key measures in support of this goal include training Hikma staff on labour standards and how to recognise and respond to any incidences of modern slavery, undertaking periodic analysis and management of any modern slavery risk in Hikma’s businesses or supply chains, carrying out appropriate due diligence and engaging on the issue with supply chain partners.

Anti-bribery and corruption

Hikma does not tolerate corruption or bribery and it applies strict processes to ensure that our employees do not participate in any form of corrupt practices. Hikma is publicly listed on the London Stock Exchange and thus abides by the UK Anti-Bribery Act 2010 and the Share Dealing Code and Disclosure policies. The Code of Conduct sets the tone for all business activities, ensuring an ethical approach runs across the Group.

The Compliance Department is developing the Anti-Bribery and Corruption e-learning programme to be launched in 2017. This e-learning programme will provide all Board members, management and employees with comprehensive and interactive training on this important issue including:

  • Hikma’s Code of Conduct
  • Anti-bribery and corruption compliance
    • Introduction to ABC Compliance
    • Interactions with public officials
    • Interactions with HCPs
    • Gifts, hospitality and entertainment
    • Grants, sponsorships and donations
  • Interactions with third parties
  • Conflicts of interest
  • Insider dealing
  • Speak-up

The e-learning module will initially launch in three languages (English, Arabic and French) at the beginning
of 2017 to employees in MENA and Europe, and will be introduced to US employees later in the year.

In addition to the e-learning module, we will also make available, via a shared internal platform, the compliance policies and procedures that are essential to all employees across all levels such as:

  • Hikma’s Code of Conduct
  • Anti-bribery and corruption
  • Gifts, hospitality and entertainment
  • Conflict of interest
  • Speak-up

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