Ferring belongs to an industry with the power to change lives and on which great expectations rest. These expectations demand that the pharmaceutical industry delivers better and more affordable healthcare solutions for people globally. Healthier people means healthier communities and a more vibrant and sustainable economy. This is a position of great trust and responsibility which, we at Ferring, take very seriously.
• Committed to better medicine through research –The pharmaceutical industry dedicates a significant amount of its resources and its operational profit to researching and developing new and better medicine. Through this activity alone it makes an essential contribution to the health and well-being of people around the world. Today’s healthcare challenges demand that the industry operates as investor, partner and collaborator to develop long-term solutions.
• High levels of accountability –
Where human health is concerned, transparency and accountability are key. The pharmaceutical sector is one of the most tightly regulated in the business world. From primary research through to clinical trials, data collection and ongoing pharmaco-vigilance, our products and processes are subject to high levels of scrutiny.• A partner to other players in the healthcare sector –
The pharmaceutical industry is also an important partner to professional medical organisations and advocacy groups committed to advancing healthcare solutions. It is a significant contributor to training and support for researchers, healthcare practitioners and patient associations. These are essential to ensuring the safe and professional delivery and use of products and therapies.
Ferring is proud to be part of an industry working to address human healthcare needs. At the same time, we recognise that the sector needs to address a number of challenges today.
• The demand for greater value –
Governments, insurers and regulators are demanding that the industry illustrate not just efficacy and safety of its medicines but also ‘good value’ to society – in terms of its medical benefits and price.
• Access to medicine –
Industry is expected to play its part in making its medicines accessible to a global community in terms of availability and affordability.
• Public trust in ‘big pharma’ –
Trust in pharmaceutical companies remains weak.1 There have been a number of high profile cases regarding product safety, questionable marketing practices and controversial pricing strategies.
We believe that continued success of the industry will depend on it achieving greater transparency of its processes and the integration of sustainable business practices into its operations. Embracing new scientific technologies as well as effectively utilising big data and digital advances will help all working in the healthcare sector to offer better healthcare to a global pool of patients. Most importantly, we at Ferring believe that it is collaboration between all players in this sector – from industry, to governments, regulators, payers, healthcare practitioners and patient and advocacy groups – that will be key in achieving new healthcare solutions in the future and we are committed to being a good healthcare partner.
1 Edelman Global Trust Index 2016