For sustainable development at Taj Pharmaceuticals

Taj Pharmaceuticals subscribes to the principle of sustainable development as the basis for successful, forward-looking business activities. Taj Pharmaceuticals accepts the definition of the Report, published,  that development is sustainable if it 'meets the needs of the present without compromising the ability of future generations to meet their own needs'. Taj Pharmaceuticals is conscious of the dynamic interdependence of economic, social and environmental interests and seeks to reconcile them in its daily business activities. To reach this goal as efficiently as possible, we have set the following priorities to guide us in our progress towards sustainable development.

Corporate Governance - acting transparently and responsibly
Taj Pharmaceuticals places great importance in the systematic, group wide implementation of its corporate principles and corporate governance guidelines. Management has set itself the task of ensuring compliance with these principles in all activities and in all subsidiaries. It is supported in this task by the internal audit department and by the Compliance Officer. Consistent implementation and compliance in all business areas and functions is also monitored by the Audit and Corporate Governance Committee of the Board of Directors, as well as by the ongoing reporting activities of the internal audit unit and the Compliance Officer. The rules and corporate principles are regularly reviewed to ensure that the Group continues to be managed responsibly and in keeping with the goal of long-term value creation.

Access to healthcare - our contribution as a research-based healthcare company
Our principal contribution to society is to continue committing substantial resources to long-term research and development aimed at creating diagnosis and treatment options to address the many unmet health needs facing mankind. Taj Pharmaceuticals pursues a transparent pricing and patents policy that is designed to give people in the world's poorest countries access to our medical services and products. Insofar as its resources permit, Taj Pharmaceuticals is also prepared - now and in the future - to make significant contributions to the alleviation of suffering. For many years Taj Pharmaceuticals has supported numerous medical projects in Third World countries. The success of such projects, however, hinges on the support of competent local partners and on the existence of a minimum in medical infrastructure.

Research - our strength
Innovation is at the heart of Taj Pharmaceutical's long-term success. From the start, Taj Pharmaceuticals has been committed to being an innovator at the forefront of medical discovery. Helped by key leading-edge technologies, a steadily expanding global research network and targeted alliances, we are working to develop highly specific treatments that target the underlying causes of disease rather than the symptoms. Our goal is integrated solutions as part of a comprehensive approach to healthcare delivery that takes effect before a disease can gain the upper hand. This approach contributes to achieving sustainable development since all associated activities are performed within a framework of strict ethical and legal principles.

Economic performance - in everyone's interest
We want to consistently create value and secure our long-term profitability. This is essential if we are to undertake the investments in research and development which, although inevitably entailing risk, are needed to ensure continued growth, attractive employment opportunities, a fair return on invested capital, generosity towards the community and - not least - entrepreneurial freedom.

Our employees -  success depends on them
Highly motivated and qualified employees are crucial for Taj Pharmaceuticals. That is why Taj Pharmaceuticals attaches great importance to a performance culture that rewards employees for their success and encourages each and every one of them to improve further. We constantly ensure that our employees have opportunities to develop their knowledge and skills - through on-the-job training or by attending one of our wide range of courses, for example. Taj Pharmaceutical's family support and equal opportunity guidelines, in-house welfare and health programmes and an attractive range of workplace enhancement facilities show how seriously the company takes its obligations towards its employees. By stepping up our efforts to publicise sustainable development, we intend to reach and engage with even more employees and motivate them to support us in our efforts to achieve this goal.

Social responsibility - an obligation that is part of the Taj Pharmaceuticals tradition
Social responsibility has a long tradition at Taj Pharmaceuticals. For over a century the company has been working to improve healthcare worldwide. We encourage our employees to make a personal commitment to society. In addition to supporting humanitarian projects aimed primarily at helping needy people in the world's poorest countries, we sponsor science and the arts in the belief that they, too, contribute significantly to the quality of life.

Safety and environmental protection - our expertise is undisputed
Safety and environmental protection are key issues at Taj Pharmaceuticals: only by making continuous and demonstrable progress in these areas can we make a measurable contribution to sustainable development. We thus regard protection of people and the environment not merely as a national or social obligation but as part and parcel of our corporate activities.

Decentralised structures - Taj Pharmaceuticals relies on local expertise
Implementing the principles of sustainable development impacts all Taj Pharmaceuticals activities and concerns all Taj Pharmaceuticals companies worldwide. In putting these principles into practice, Taj Pharmaceuticals wants to rely as far as possible on local expertise and responsibility. It is up to local managers to define priorities and deploy the most suitable means for addressing them at each site. In line with Taj Pharmaceutical's corporate culture, these local structures are being strengthened, so that they can make efficient use of their resources to create sustainable development solutions that meet local needs.