Fourth ESG Report Details Company’s Progress Towards
Environmental Sustainability and Contributions Toward Building
Healthier Communities as a Leading Provider of Accessible
Medicines
Amneal Pharmaceuticals, Inc. (Nasdaq: AMRX) (“Amneal” or the
“Company”) today announced the release of its fourth (2023)
Environmental, Social and Governance (ESG) Report. This 2023 report
provides a look at our progress against our core ESG priorities,
including our commitment to embedding sustainability across our
business; human capital management, including well-being, inclusion
and belonging efforts; philanthropic partnerships with
health-related non-profits; corporate governance and oversight over
ESG strategy and risks; and improving access to essential medicines
globally.
At its core – Amneal is a company that believes in responsible
corporate citizenship. Our 2023 ESG Report documents how a
family-founded business has evolved into a world-class, global
diversified pharmaceutical company headquartered in the U.S. that
operationalizes its ESG commitments across our three core
geographies (the U.S., India and Ireland).
“In 2024, our business is stronger than ever, allowing the
Company to execute upon its mission of enhancing access to
essential medicines such as complex pharmaceuticals, institutional
injectables, specialty brands and biosimilars for patients in need.
We also continue to improve and expand upon our prior ESG efforts
to advance environmental sustainability, diversify our employee
base and strengthen our corporate governance and compliance
programs,” said Chirag Patel, Co-CEO and Co-Founder.
“In tandem with our scientific innovation and commitment to a
high-quality supply chain, we are actively working to progress our
decarbonization efforts through rigorous processes for tracking and
monitoring which will drive incremental benefits. We take this
obligation very seriously as we seek additional ways to make
healthy possible,” said Chintu Patel, Co-CEO and Co-Founder.
Key 2023 ESG Achievements
- Affordability and Accessibility:
In 2023, we advanced our commitment to accessible medicines by
launching 39 new retail generics and injectable products (compared
to 26 in 2022.) We entered the India market with our Critical Care,
Ophthalmology and Oncology portfolios, bringing innovative
high-quality medicines to patients. Furthermore, an Amneal
representative joined the board of directors of the Association of
Accessible Medicines (AAM) and the Company also joined the
Biosimilars Forum. Together these organizations help make more
life-saving treatments available to the patients who need them.
- ESG Strategy & Risk:
In 2023, we engaged a reputable third-party organization to
conduct our first Materiality Assessment. This perception-based
assessment is intended to highlight Amneal’s key ESG opportunities
and risks, further shaping our long-range ESG strategy, priorities
and investments. The assessment process included identifying key
internal and external stakeholders for in-depth discussions. We
expect to share the results of the Materiality Assessment in next
year’s ESG report.
In 2023, we introduced a new cross-functional ESG Taskforce. The
overriding objective of this team is to advise and guide the
business and the leadership team on the ESG regulatory and
compliance requirements plus enlist partnership from the different
business units involved. Additionally, to support our data
management efforts, we are tracking our global greenhouse gas
emissions data in a systematic way locally.
- Environmental Sustainability:
Following the progress made in 2022 when we began to measure the
Company’s emissions, Amneal developed our first sustainability
focused Inventory Management Plan and accompanying Standard
Operating Procedures and initial Workflow documents, in alignment
with the Greenhouse Gas Protocol. Furthermore, we implemented a new
greenhouse gas accounting software to support our measurement and
evaluation of greenhouse gas emissions across our three core
geographies, as committed in our 2022 ESG Report.
- Inclusion and Belonging:
In 2023, we held specific training and education sessions on
diversity, equity, inclusion and belonging (DEIB) across the globe
along with community building events and workshops. We have an
active goal of improving gender diversity across all of our India
sites. In 2023, the India teams achieved an increase from 7.8%
female representation to 9.2%. We also scaled up our Employee
Resource Group (ERG) program since 2022, by expanding our women’s
ERG, AmnealWomen, pilot program with two dedicated chapters in both
the U.S. and India.
- Good Governance:
Amneal has established an effective enterprise-wide Corporate
Compliance Program that is designed to identify and address risks
through critical thinking and collaboration with business partners.
The Corporate Compliance function promotes transparency by
identifying opportunities to reinforce that compliance is
everyone’s responsibility. Amneal’s Corporate Compliance function
routinely conducts auditing and monitoring of business
activities—in cooperation with Amneal’s Internal Audit team—to
assess adherence to company policy, identify potential training
needs and ascertain the need for policy development or
modification.
For more information about Amneal’s ESG progress, commitments,
and strategy for 2024, please download a copy of the report at
www.amneal.com/about/responsibility.
About Amneal
Amneal Pharmaceuticals, Inc. (Nasdaq: AMRX), headquartered in
Bridgewater, NJ, is a global pharmaceuticals company. We make
healthy possible through the development, manufacturing, and
distribution of a diverse portfolio of over 280 pharmaceutical
products, primarily within the United States. In its Generics
segment, the Company is expanding across a broad range of complex
product categories and therapeutic areas, including injectables and
biosimilars. In its Specialty segment, Amneal has a growing
portfolio of branded pharmaceuticals focused primarily on central
nervous system and endocrine disorders, with a pipeline focused on
unmet needs. Through its AvKARE segment, the Company is a
distributor of pharmaceuticals and other products for the U.S.
federal government, retail, and institutional markets. For more
information, please visit www.amneal.com.
Cautionary Statement on Forward-Looking Statements
Certain statements contained herein, regarding matters that are
not historical facts, may be forward-looking statements (as defined
in the U.S. Private Securities Litigation Reform Act of 1995). Such
forward-looking statements include statements regarding
management’s intentions, plans, beliefs, expectations, financial
results, or forecasts for the future, including among other things:
discussions of future operations; expected or estimated operating
results and financial performance; and statements regarding our
positioning, including our ability to drive sustainable long-term
growth, and other non-historical statements. Words such as “plans,”
“expects,” “will,” “anticipates,” “estimates,” and similar words,
or the negatives thereof, are intended to identify estimates and
forward-looking statements.
The reader is cautioned not to rely on these forward-looking
statements. These forward-looking statements are based on current
expectations of future events, including with respect to future
market conditions, company performance and financial results,
operational investments, business prospects, new strategies and
growth initiatives, the competitive environment, and other events.
If the underlying assumptions prove inaccurate or known or unknown
risks or uncertainties materialize, actual results could vary
materially from the expectations and projections of the
Company.
Such risks and uncertainties include, but are not limited to:
our ability to successfully develop, license, acquire and
commercialize new products on a timely basis; the competition we
face in the pharmaceutical industry from brand and generic drug
product companies, and the impact of that competition on our
ability to set prices; our ability to obtain exclusive marketing
rights for our products; our revenues are derived from the sales of
a limited number of products, a substantial portion of which are
through a limited number of customers; the impact of a prolonged
business interruption within our supply chain; the continuing trend
of consolidation of certain customer groups; our dependence on
third-party suppliers and distributors for raw materials for our
products and certain finished goods; legal, regulatory and
legislative efforts by our brand competitors to deter competition
from our generic alternatives; our dependence on information
technology systems and infrastructure and the potential for
cybersecurity incidents; our ability to attract, hire and retain
highly skilled personnel; risks related to federal regulation of
arrangements between manufacturers of branded and generic products;
our reliance on certain licenses to proprietary technologies from
time to time; the significant amount of resources we expend on
research and development; the risk of claims brought against us by
third parties; risks related to changes in the regulatory
environment, including U.S. federal and state laws related to
healthcare fraud abuse and health information privacy and security
and changes in such laws; changes to Food and Drug Administration
product approval requirements; the impact of healthcare reform and
changes in coverage and reimbursement levels by governmental
authorities and other third-party payers; our dependence on
third-party agreements for a portion of our product offerings; our
substantial amount of indebtedness and our ability to generate
sufficient cash to service our indebtedness in the future, and the
impact of interest rate fluctuations on such indebtedness; our
potential expansion into additional international markets
subjecting us to increased regulatory, economic, social and
political uncertainties; our ability to identify, make and
integrate acquisitions or investments in complementary businesses
and products on advantageous terms; the impact of global economic,
political or other catastrophic events; our obligations under a tax
receivable agreement may be significant; and the high concentration
of ownership of our Class A common stock and the fact that we are
controlled by the Amneal Group. The forward-looking statements
contained herein are also subject generally to other risks and
uncertainties that are described from time to time in the Company’s
filings with the Securities and Exchange Commission, including
under Item 1A, “Risk Factors” in the Company’s most recent Annual
Report on Form 10-K and in its subsequent reports on Forms 10-Q and
8-K. Investors are cautioned not to place undue reliance on any
such forward-looking statements, which speak only as of the date
they are made. Forward-looking statements included herein speak
only as of the date hereof and we undertake no obligation to revise
or update such statements to reflect the occurrence of events or
circumstances after the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20240628679742/en/
Contact Anthony DiMeo VP, Investor Relations & Media
anthony.dimeo@amneal.com
Amneal Pharmaceuticals (NYSE:AMRX)
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