Compliance

ABOUT US

Pharmimex did its best to follow strict rules and regulations giving priorities to honesty, transparency and professionalism during its entire history. Such approach is the very cornerstone for developing stable corporate business, for improving efficiency, and for rising economic indexes.

Pharmimex's position on the market, its importance and production volumes provide for certain corporate governance aspects. It is important for the company and its management to ensure that in the course of achieving business objectives the company will comply with legislation, industry standards and regulations, and that the business itself will be efficient, effective and ethical. Compliance helps achieve this through a system of compliance with laws, rules and standards. Compliance is an important element of the company's global risk management system (sanctions by inspection bodies, significant financial losses or loss of reputation in case of non-compliance with codes of conduct).

The task of any company's management should be to identify such risks and eliminate them. Otherwise, other initiatives will not develop and the compliance itself will be formal.

The company’s compliance risk register and map constitute the next level of our company's compliance system. These documents set out the main ways to minimize them, responsible persons and control procedures.

Our corporate rules in all areas comply with the anticorruption and antitrust laws. In 2019 we developed our own dedicated corporate digital platform where our employees receive e-learning, get acquainted with company policies and key business ethics and compliance news. We have developed an anticorruption policy and rules of cooperation with our counterparties.

The company employs a compliance officer, who, in addition to legal education, also has a special education. The compliance officer is engaged in scientific research in this area. This experience for Russia is new, and the methodology basis is developed by such pioneers as we.

Charitable activity of Pharmimex JSC is also strictly compliant, the company is limited in providing gratuitous aid to patients both by legislation and its policy which sets out the principles and rules that ensure transparency, equal access to charitable aid and uniform reporting parameters.

In addition, we do not use good deeds to establish a business relationship or obtain any benefits. Medical aid in case of medical indications is provided only through organizations that have a direct relation to medicine in any form (patient, charitable organizations providing assistance to patients). It is strictly prohibited to provide financial assistance to political parties, governmental officials, doctors and other persons.

Thus, by performing a specific task individually the elements of the compliance system established in our company together ensure global compliance with the requirements of legislation and help to conduct an ethical business.