Corporate Governance – Ethical & Transparent Pharma

TOPIC:

Initiative

Corporate Governance – Ethical & Transparent Pharma

SUBMITTED FROM:

GENESIS Pharma is a biopharmaceutical company specializing in the commercialization of innovative pharmaceutical products for serious and rare diseases in Central and Eastern Europe. Established in 1997, GENESIS Pharma was the first pharmaceutical company in Greece and one of the first in Europe to focus on the sales, marketing and distribution of biopharmaceutical products. Shortly after its founding, the company began to steadily expand at a regional level, today covering most countries in the CEE region. Through long-standing strategic partnerships with some of the leading global pharmaceutical companies committed to cutting-edge R&D, GENESIS Pharma has created a strong portfolio of innovative and high therapeutic value pharmaceutical products for more than 30 severe and rare diseases.

www.genesispharma.com

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Objective Action

The initiative aims to strengthen and ensure a corporate governance framework that promotes ethics, transparency, and accountability across all activities of GENESIS Pharma. Specifically, it seeks to:

Integrate high standards of ethical business conduct across all operations and relationships with stakeholders (patients, healthcare professionals, partners, suppliers).
Ensure full transparency in decision-making processes, collaborations, and financial transactions, in accordance with the applicable regulatory and legal framework.
Strengthen compliance and control mechanisms to effectively prevent and address potential risks or violations.
Foster a culture of integrity and accountability among employees and management.
Adopt international best practices in the pharmaceutical sector to enhance public trust and support the company’s sustainable growth.

Through this initiative, GENESIS Pharma reaffirms its commitment to operating as a responsible and trusted partner in the healthcare sector.

Target Audience

The “Corporate Governance – Ethical & Transparent Pharma” initiative addresses all key stakeholders of GENESIS Pharma, both internal and external, aiming to establish a framework of trust, ethical conduct, and transparency.

Internal Audience

Employees (all levels: leadership, middle management, staff)

Objective: Strengthening a culture of ethics, compliance, and transparency.

Management & Board of Directors - Responsible for strategic decision-making

Objective: Enhancing accountability and effective corporate oversight.

External Audience

Healthcare Professionals (HCPs) (physicians, pharmacists, nurses): Ensuring ethical and transparent collaborations.
Patients & Patient Associations: Strengthening trust and responsible corporate behavior.
Regulatory Authorities & Institutional Bodies (EOF, Ministry of Health, European authorities): Ensuring full compliance.
Partners & Suppliers: Promoting responsible and transparent business practices across the value chain.
Investors / Shareholders / Business Community: Ensuring reliability, transparency, and sustainable growth.
Society & General Public: Enhancing trust in the pharmaceutical sector.

Duration

Ongoing / long-term initiative, fully embedded in daily operations.

Description

The initiative “Corporate Governance – Ethical & Transparent Pharma” was designed to establish a comprehensive and modern corporate governance framework, embedding high standards of ethics, transparency, and compliance across all company operations.

It was driven by the need to further strengthen stakeholder trust in a highly regulated and sensitive sector such as pharmaceuticals. GENESIS Pharma adopted a comprehensive approach, linking corporate governance not only to regulatory compliance but also to corporate culture and daily operations.

Implementation included:

Updating and strengthening policies related to ethics, compliance, and risk management.
Developing targeted training programs for all employees, focusing on ethical dilemmas and real-life scenarios.
Enhancing internal control and reporting mechanisms (including whistleblowing systems).
Integrating ESG principles and international best practices into daily operations.
Increasing transparency in relationships with healthcare professionals, partners, and society.

Innovative / distinctive features:

Comprehensive approach linking governance with corporate culture, beyond compliance.
Focus on experiential learning through real-life case studies.
Empowering employees as “ethics ambassadors”.
Continuous evaluation and improvement through KPIs and feedback.
Alignment with international pharmaceutical standards and best practices.

Through this initiative, GENESIS Pharma establishes a transparent, responsible, and ethical business model that strengthens sustainability and long-term value creation.

Key Implementation Tools

1. Policies & Procedures

Code of Conduct and Business Ethics
Compliance policies (Anti-Bribery & Anti-Corruption)
Conflict of Interest policies
Risk Management and Internal Control policies

2. Training & Awareness

Mandatory training for all employees
Targeted training for key roles
Experiential workshops with ethical dilemmas and case studies
Internal communication and awareness campaigns

3. Compliance & Control Mechanisms

Internal Audit system
External partner audits
Monitoring and evaluation processes
Clearly defined roles (Compliance Officer, Committees)

4. Reporting & Transparency Channels

Confidential whistleblowing system
Protection of anonymity and non-retaliation
Transparent incident investigation processes

5. KPIs & Evaluation

Monitoring compliance and ethical performance indicators
Training participation evaluation
Employee and stakeholder feedback
Continuous improvement

6. Digital Tools & Infrastructure

E-learning and compliance tracking platforms
Policy management and approval tools
Digital documentation and archiving

7. Governance & Culture

Strong leadership commitment (“tone from the top”)
Leadership role-modeling of ethical behavior
Embedding governance principles into daily operations

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Impact on Society

The initiative significantly strengthened the culture of ethics, transparency, and compliance across the organization and stakeholder relationships.

Indicative results:

100% employee participation in compliance and ethics training.
Increased understanding of governance principles (via assessments and feedback).
Strengthening trust and transparency in collaborations.
Improved internal accountability and early reporting of issues.
Full compliance with regulatory framework.
Enhanced use of policies and reporting channels.

The initiative has strengthened GENESIS Pharma’s reputation as a responsible and trusted organization.

Initiative Location

Internal implementation across all GENESIS Pharma operations in Greece

Working with Organization

The initiative is based on international standards and best practices in corporate governance and compliance, without formal partnerships with external organizations.

It was implemented internally by GENESIS Pharma, with the involvement of relevant functions (Compliance, Legal, HR, Internal Audit), ensuring alignment with the company’s strategy and culture.

The initiative remains continuously aligned with regulatory requirements and guidelines (e.g., EOF and European frameworks), although it does not constitute a formal partnership.

GENESIS Pharma:

Continuously monitors the regulatory environment.
Incorporates regulatory requirements into internal policies.
Ensures full compliance and transparency.

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Workers Participation

The initiative is implemented with the active participation of all employees through training, policy application, and use of reporting mechanisms, strengthening a shared culture of integrity and accountability.

It is not based on volunteering in the traditional sense, but on responsible participation across the organization.

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