November 22, 2024

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Samsung Biologics’ Bio Campus 1 in Songdo, Incheon (Samsung Biologics)

Samsung Biologics announced Tuesday that it became Korea's first domestic contract development and manufacturing organization to join the US-based Pharmaceutical Supply Chain Initiative.

PSCI, a non-profit organization established in 2013, aims to promote sustainable supply chains in the biopharmaceutical sector. Its members include some 80 biopharmaceutical companies worldwide such as Johnson & Johnson, Pfizer, Novartis and AstraZeneca.

To become a member of PSCI, companies must undergo a pre-evaluation of their Environmental, Social and Governance management practices. Based on PSCI's responsible supply chain management principles, this evaluation covers environment, human rights and labor, health and safety, ethics and management systems. Only companies that pass this rigorous evaluation are eligible for membership.

Samsung Biologics plans to advance its ESG management by actively collaborating with the member companies. This includes strictly adhering to PSCI’s supply chain management principles and fully participating in future audit programs. During these audits, member companies provide detailed information about their ESG practices and share results among members. The company expects this transparency to enhance the credibility and transparency of its ESG initiatives.

“Joining PSCI will help elevate our ESG management and solidify our position as a leader in the global CDMO industry,” said John Rim, CEO of Samsung Biologics.

Meanwhile, Samsung Biologics is involved in various initiatives to promote sustainable management in the biopharmaceutical industry. The company joined the UN Global Compact, the largest voluntary corporate sustainability initiative under the UN, in June 2023.

Kim Jun-hong (hongie@heraldcorp.com)