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.

Values in action

John Wagner, Co-founder and MD

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

We hold ourselves to a high standard. These are some of the principles that guide us.

Team Spirit
Abacus Medicine is a family business. The company was established in 2004 by CEO Flemming Wagner and his father, Medical Director John Wagner, and family values remain an important part of our identity. We look out for each other, and we always work as a team.

We also treasure diversity. The employees of Abacus come from many different backgrounds and fly the flags of many nations. Working here is fun, and decisions are made fast. At Abacus Medicine, talent and dedication give people the opportunity to grow.

Trust
We believe in trust-based partnerships and long-term collaboration with our customers and suppliers. We are pleased to know that as the business of Abacus Medicine has grown over the years, so has the business of many of our loyal partners. Volatility is a basic condition of our industry, but we are not in it for a quick profit. We are in it for the long haul.

Value
Growth is in our DNA, and an entrepreneurial mindset has brought our company far in a short time. The value we create through an ambitious business model extends to partners, patients, and society as a whole.

Quality
We are committed to quality, and our Quality Assurance and Quality Control departments are among the largest of all the leading parallel distributors. A product from Abacus Medicine is a high-quality pharmaceutical product that you can trust.

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

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

Large window with a tree and plants close to it

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.

For 2019, we have prioritised the following four Focus Programs:

Environment and climate
The program will seek to reduce the environmental footprint at our main production facility in Budapest, Hungary.

Packaging material
The program will specifically address the environmental effects of how we source and dispose of packaging material.

Employees
The program will address issues identified in the Employee Satisfaction Survey 2018, including elements relating to benefits and compensation.

Medicine donation
The program will establish 1) an internal standard operating procedure and 2) cooperation with one or more NGO’s to ensure that overstock or non-saleable medicine will be offered to non-profit organisations.

CSR Report 2018

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.

Our CSR Policy is rooted in the 17 United Nations Sustainable Development Goals and the 10 principles of the United Nations Global Compact.

Among the Sustainable Development Goals, two 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”.

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 regularly and publish an annual CSR Report.