Our contribution

At Abacus Medicine, we are proud to serve a purpose beyond ourselves. When we compete in the market, we help lower the prices on life-critical medicines so that they become more widely available.

With thousands of products in our growing portfolio, this adds up to a significant contribution to society. Healthcare costs have been rising steadily for years and look to become an even bigger burden on public budgets in the future. All across Europe, populations are aging.

Abacus Medicine has grown fast since the beginning, and as we grow, we are able to make an ever-increasing contribution. To us, this is the hallmark of a sustainable business model.

Purpose

John Wagner, Co-founder and MD

John Wagner (1932-2018), Co-Founder and MD

At Abacus Medicine, we are innovative, dedicated, and we care. We improve global healthcare through better access to medicine.

Our Purpose reflects the fundamental values of our company. It’s not a lot of words, but they matter a lot. We may not think about them every day, but we live by them in our daily actions.

Innovative
We believe anything is possible. We encourage original ideas. We are flexible and always ready to change plans if an opportunity arrives.

Dedicated
We are intensely focused on our tasks. We are relentless and willing to go that extra mile.

We care
We respect and value our fellow human beings: Internal colleagues, external business partners and the societies, we are part of. We do not act only in our own interest, but are conscious of others and believe in mutual, long-term partnerships.

Global
Today, our core business is in Europe. Tomorrow, we will be a global company. This is just as much about mindset, as it is about time zones and language versions. We must think and act globally.

Access
What we do, is all about access. We provide access to medicine in countries, where patients might not have it otherwise. We provide access for companies conducting clinical trials. When we make medicine more affordable through parallel trade, we also to make it more accessible.

We strive to uphold these values, both to society and to our external and internal relations. Therefore, we have created our own compliance framework.

COMPLIANCE FRAMEWORK

Abacus Medicine has established a Whistleblowing Scheme in order to allow the reporting of potential violations of the law and serious violations of internal company policy and procedures.

Corporate Social Responsibility

We want to do better, where it really matters

CSR is an ongoing and never-ending process. From year to year, gradual changes in our business landscape and in the priorities of our stakeholders will affect our CSR priorities.

In 2021, we have defined eight Focus Programs. This is our most ambitious target for CSR ever.

ESG reporting
The program will seek to define relevant ESG metrics, collect relevant data, and analyse this data to help us set targets for the future.

Transport
The program will continue to investigate ways to measure and optimise the environmental impact of our transport activities.

Diversity
The program will seek to investigate and focus on diversity in all its forms through various internal activities and programs.

Supplier Code of Conduct
The program continues from 2020 and will work towards enforcing the Code with our suppliers.

Sustainable initiatives and corporate guidelines
The program will seek to codify key internal processes to reduce overall environmental footprint.

Waste
The program will continue to investigate sustainable waste handling and seek to further improve on our waste management.

Overall sourcing
The program will look more broadly into sustainable sourcing of various goods, equipment and services.

Philanthropy
The program will seek to codify our internal processes for philanthropical work and donations. The Medicine Donation program will fall under this new program.

CSR Report 2019

Employees, environment and more. How did we progress and what are our plans?

As Abacus Medicine grows, so does our societal impact.
We recognize our obligation to our stakeholders and to the wider society.

CSR in Abacus Medicine is rooted in the UN Global Compact and the Sustainable Development Goals.

Among the 17 Sustainable Development Goals, three have particular relevance to Abacus Medicine:

Goal #3: Good Health and Well-being, including Target 3.8: “Achieve universal health coverage (UHC), including financial risk protection, access to quality essential health care services, and access to safe, effective, quality, and affordable essential medicines and vaccines for all”.

Goal #8: Decent Work and Economic Growth, including Target 8.5: “by 2030 achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value”.

Goal #12: Responsible Production and Consumption, including Target 12.5: “by 2030, substantially reduce waste generation through prevention, reduction, recycling and reuse” and Target 12.6: “encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle”.

Because we insist on a close link between our core business and our CSR efforts, we subsequently adapt the UN’s broad goals and principles into specific goals and action plans reflecting the business practices of Abacus Medicine. We want to do better, where it really matters.

Corporate Social Responsibility at Abacus Medicine is governed at the executive level. We share news on our progress and publish an annual CSR Report.

Partnering with ideas for a better future

Abacus Medicine is the main sponsor and partner of #covidWISE – a project that supports students and young social entrepreneurs in developing innovative business models aimed at relieving the social, economic and health consequences of COVID-19.

As a company where entrepreneurial spirit and innovative ideas are fundamental, the #covidWISE-project fits perfectly with the values of Abacus Medicine. Our partnership with #covidWISE allows us to engage with and support our society in multiple relevant and important ways.

#covidWISE is anchored at the Copenhagen Business School, but is open to students and social entrepreneurs from all over the world through digital platforms such as Coursera and Babele.

You can read more about #covidWISE on their website.

VISIT #COVIDWISE

Free medicine for hospitals in Ghana

Abacus Medicine recently donated medicine worth approximately EUR 35,000 free of charge to hospitals in Ghana.

The medicines will be distributed locally by the two organizations The Ghana Baptist Convention (GBC) Health Service and the Christian Health Association of Ghana.

The shipment is part of our CSR program and is our second during 2019. This time, we donated medicine with an expiry of between 2 and 6 months, all of which were useful to the recipient hospitals.

Global guidelines
“I’m happy and lucky to work in a company where I can drive a project that donates to a society where patients cannot afford the medicine. This medicine is perfectly good but could not be sold in our traditional markets, so the next option for me would naturally be a donation,” says Logistics Controller Mark Hemanson. On top of his day job in our Supply Chain department, Mark is also responsible for organizing our medicine donations.

In order to guarantee that the medicine is relevant, of sufficient quality and does not influence local markets and competition, all donations must comply with the World Health Organization’s (WHO) “Guidelines for Medicine Donations”.

Abacus Medicine works in cooperation with Global Medical Aid, a non-governmental organization (NGO) working in a number of developing countries.