Enhancing Governance

With integrity as one of our core values, WuXi Biologics is committed to identifying and addressing any potential business ethics risks in our operations. We aspire to generate real, lasting, positive impacts on the value chain by also applying the same ethical standards to our business partners.

The Ethics and Compliance Committee of WuXi Biologics, the highest management organization of the Company’s compliance system, is responsible for formulating the Company’s compliance management strategy, enhancing the Company’s compliance operations, reinforcing its ability to prevent and address compliance risks, and better navigating the challenges of an evolving global business environment.

We design business ethics and compliance programs to ensure the effective implementation of our high ethical standards. Key elements include communication and training, regular audits and risk assessments, employee incentives linked to compliance, and well-established reporting and incident investigation procedures.

Risk Management Process

 

We have established a holistic risk management system to manage risks, hazards, incidents, complaints, and claims. The system is designed to ensure the stability of our business activities by identifying, assessing, and responding to risks at an early stage.

We regard intellectual property as our shared lifeline, and guard it with our founding principles of integrity, world-class security, zero-tolerance policy enforcement, and relentless pursuit of justice for any criminal act. In 2022, we remained certified with Intellectual Property Management Certificates by external organizations.

Meanwhile, we are committed to respecting and protecting people’s right to data privacy in our operations and activities, paying close attention to potential information security risks, and quickly identifying and responding to security incidents and data breaches.

We are committed to working with supply chain business partners who operate in line with our ethical standards and principles, and strive to integrate environmental and social sustainability into our supplier management system.

Following the PSCI Principles for Responsible Supply Chain Management, we also actively engage and collaborate with our suppliers, through supplier sustainability risk assessment and responsible procurement audit, to drive best practices and bring positive impact to our value chain.In 2023, the company conducted on-site supplier audits following PSCI principles, performed by an independent accredited third-party. PSCI is a widely recognized standard adopted by pharmaceutical companies for sustainable supply chain assessment. Based on audit results, the company proposed corrective action plans for suppliers and supervised their rectification completion. PSCI principles include Ethics, Labor, Health & Safety, Environment, and Management Systems.