Sustainability at Xbrane
Xbrane’s work on sustainability goes hand in hand with Xbrane’s vision and business concept to develop and manufacture cost-efficient biosimilars of hard-to-manufacture medicines and make these treatments available to more patients with medical needs at a lower cost. This is the heart of our business and Xbrane’s most important contribution to a sustainable future.
Xbrane’s efforts to create added value for patients and other stakeholders as well as improve access to effective and high-quality medicines make a positive contribution to society. Without building trust and acting responsibly in a number of areas, Xbrane would not be able to make such a contribution. The pharmaceutical industry, in which Xbrane operates, is one of the world’s most regulated industries, where very high demands are placed on operators both locally and globally based on ethical regulations and how research, development, production, marketing and distribution can be carried out. In addition, as a listed company on Nasdaq Stockholm, Xbrane follows its regulations regarding financial reporting, corporate governance, communications, etc. Xbrane is therefore in a strict-regulated environment, where stakeholder expectations are high. In recent years, transparency requirements have increased for companies in terms of managing a sustainable business. We note that an increasing number of investors believe that clearly addressing and working on sustainability issues can
reduce risk and increase the value of a company.
Sustainability work in 2019
Xbrane sustainability work in 2019:
• Establishment of a sustainability group.
• Management training in sustainability issues.
• Completion of a materiality analysis of company sustainability issues.
• Definition of the main sustainability areas on which the Company will concentrate its efforts.
• Initiation of a steering project with the aim of systematizing sustainability efforts and developing methods for the evaluation of the work.
• Completion of analyses and activities within the focus area “Attractive employer”.
Sustainability group and training
As part of its work on creating value, Xbrane has started to address sustainability. In order to increase internal knowledge of sustainability, establish a structured working method and in order to be able to implement and report on Xbrane’s sustainability, a sustainability group was established in 2019.
The group is led by the CFO and consists of relevant corporate functions in a position to influence company policies and strategies. The group reports to the CEO and Board as required.
Materiality analysis of sustainability issues
In order to define what sustainability means for Xbrane, a survey of the Company’s main stakeholders and sustainability issues was carried out. Based on key stakeholders, the Company made an assessment based on experience and assumptions, of the significant expectations that Xbrane faces and which the Company has the opportunity to influence. This survey of stakeholders and key issues underpins Xbrane’s continued sustainability work, which will progress in 2020. The materiality analysis method is in line with the thoughts and ambitions of GRI, with the exception of stakeholder dialog, which will be addressed at a later
stage to validate Xbrane’s essential sustainability issues.
Xbrane’s central sustainability areas
Based on the materiality analysis, the Company has grouped the most crucial issues into four sustainability areas. Xbrane believes that the Company can contribute to the greatest societal impact in these areas. The idea is for these sustainability areas to form the basis for Xbrane’s future management and monitoring of sustainability work and, as far as possible, become an integral part of the Company’s business strategy. Based on the work that has been done so far, the sustainability areas consist of:
Contribute to “Health Equality”
With its developed biosimilars, Xbrane wants to contribute to more patients having access to effective treatments, at a lower cost to patients and society.
To be seen as a reliable and professional operator for investors and partners
Xbrane wants to be seen as a credible and reliable operator for current and future collaboration and investment.
To be a responsible operator within society
Xbrane wants to take responsibility for its footprint on the outside world and is striving to minimize its negative effects
To be an attractive employer
Xbrane wants to offer an attractive and nurturing workplace for the best key skills.
Activities during 2019
Establishment of a safety committee
A safety committee was set up, consisting of the Head of Biosimilars/Deputy CEO, CFO plus two employee representatives. At the time of publication of this report, the safety committee had carried out the following:
• Conducted safety inspections and risk assessment of the physical working environment at the laboratory, in offices and other personnel areas.
• Participated in a work environment course involving the safety committee and key people within the Company.
Performance management and remuneration structure
Evaluation of performance management and remuneration structure with employees. Our ambition for 2020 is to launch an updated format for performance management
and the remuneration structure with the aim of living up to the expectations of Xbrane employees.
Satisfaction barometer for employees
A monthly survey to measure satisfaction and to identify positive and negative factors that employees feel exist.
Planned activities during 2020
In 2020, Xbrane will continue the development of both the governance and implementation of its sustainability work. Some of the activities planned for the year are as follows:
• Establish safety targets for identified central sustainabilty
• Review of Code of Conduct, policies and compliance.
• Analysis of compliance with working hours legislation.
• Establish functions for the reporting of incidents, as well as whistleblowing.
• Design of a new office and laboratories in accordance with work environment legislation and our sustainability focus.
Xbrane’s focus areas for sustainability issues
Good health and well-being for a larger population
A key part of Xbrane’s sustainability efforts is to contribute to the UN’s global goals for sustainable development. Xbrane’s four focus areas for its sustainability work contribute to several of the global goals but with a primary focus on sustainability goal number three “Good health and well-being”. This sustainability goal is the most central for Xbrane as it is directly applicable to Xbrane’s business and ambition to make effective medical treatments available to a larger patient population. Furthermore, Xbrane’s sustainability work also aims to contribute to target number eight “Decent working conditions and economic growth”, number nine “Sustainable industry, innovations and infrastructure” and number 16 “Peace and Justice Strong Institutions”.
Xbrane’s key stakeholders
• Stock market
• Patients, healthcare providers and patient organizations
• Healthcare system
• Insurance companies and paying authorities
• Regulatory authorities
Xbrane’s four focus areas for sustainability issues