Business Ethics

Introduction

As a global company with a worldwide footprint, we have a duty to ensure we practice good ethics wherever we operate. This means upholding the universality of good ethics enshrined in the UN Global Compact’s Ten Principles3 and committing to continually raise awareness, engage and empower colleagues to make the right decisions in the workplace. 

Beyond our legal responsibility to respect global and local laws wherever we work, we also have a duty of care to everyone whose lives we touch in the process – colleagues, patients, doctors and collaborative partners. This means behaving ethically in all interactions we have with them, as well as respecting and safeguarding their privacy.

3A set of principles covering labour & human rights, transparency & anti-corruption https://www.unglobalcompact.org.uk/the-ten-principles/

 

‘Building an ethical approach to managing
procurement has to start with how we
work ourselves first – raising awareness,
understanding our risks and responsibilities,
changing mindsets. We cannot expect our
suppliers to do the same, if we are not 
setting an example.’

Eric Espinasse 
Chief Procurement Officer

Our Progress

 

The core responsibility for Ethics at Ferring rests with our Global Ethics and Privacy Office. However, we believe that good ethics are not just about rules and compliance. They are also about developing an ethical mindset – which is everyone’s job. Oversight rests with the Chief People and Values Officer and the Ethics and Compliance Board Committee. We are also supported by a global network of Ethics Coordinators who help us to foster a culture of good practice and build an ethical mindset. A core set of policies and Standard Operating Procedures (SOPs) are brought to life through various engagement tools such as our Ethics E-Learning platform and the Ferring AlertLine. And as always, our inspiration comes from the Ferring Philosophy, which lies at the heart of our approach.

  

We have a duty above all to protect the personal data of our patients, external stakeholders and employees. In order to live up to this responsibility, we have taken a number of steps:

  • Launched a Global Privacy Policy and principles for privacy.
  • Introduced Privacy by Design (PbD) as our framework and methodology to enable privacy as a mindset - embedding it directly into technology, systems and practices at the design phase.
  • Appointed a Global Data Protection Officer, responsible for informing and advising Ferring with regard to its obligations on GDPR and other applicable national data protection laws.

 

In 2018, Ferring’s Code of Conduct was launched in 15 languages worldwide. The Code of Conduct has a strong focus on anti-corruption and sets out the overarching policies that Ferring requires its employees to comply with.

 

Ferring takes its responsibility to mitigate bribery risks very seriously. In 2018, we launched a corporate standard operating procedure (SOP) on cross-border interactions with external stakeholders. The SOP describes the cross-border procedure for interacting and exchanging anything of value with our external stakeholders – including healthcare professionals (HCPs) and healthcare organisations (HCOs). The SOP covers all Ferring’s entities and goes beyond industry standards in its regulation of benefits of all kinds.

 

In 2018, Ferring launched a corporate standard operating procedure (SOP) on cross-border transparency reporting. The SOP describes the cross-border procedure for reporting direct and indirect transfers of value (ToV) and other benefits in kind made to healthcare professionals (HCPs), healthcare organisations (HCOs) and other relevant external stakeholders. Along with the corporate SOP, Ferring has launched a global reporting platform to ensure transparency and compliance.

 

With our Supplier Conduct Principles already in place, we now recognise the need to drive these into the business and supply chain more effectively. Our new Chief Procurement Officer will bring these Principles to life. Our plan is to build a longer-term strategy that will embed a culture of responsible procurement at Ferring.