PCI Pharma Services, a leading global contract development and manufacturing organization (CDMO), has published its first Environmental, Social & Governance (ESG) Report. The report provides comprehensive details of PCI’s sustainability journey, highlighting the progress made since the program’s formal inception in 2021 and setting ambitious goals for the future.
The report focuses on nine impact categories, including carbon footprint, responsible waste management, eco-conscious procurement, health and safety, community impact, and diversity, equity, and inclusion (DEI). PCI’s ESG initiatives aim to have a positive impact on the communities it interacts with and serves.
The ESG program is inclusive and bottom-up, incorporating input from hundreds of employees, customers, supplier partners, investors, and community organizations through a Double Materiality Assessment. The assessment revealed that the majority of PCI’s ESG impact categories align with stakeholder priorities, but the results were used to ensure long-term alignment with PCI’s ESG strategy.
Some key highlights from the report include emission reduction targets, water conservation goals, waste management plans, and community impact initiatives. PCI aims to reduce greenhouse gas emissions, energy intensity, and water consumption, as well as increase recycling and community involvement. The company is also committed to enhancing diversity and inclusion throughout the organization, including the supply chain.
PCI views its approach to ESG as a demonstration of the interconnectedness between the wellbeing of the planet and its people. The company has been working to align its commitments, culture, and performance with the wellbeing of humans, the planet, and the communities it serves.
PCI Pharma Services is a global CDMO with integrated drug development, manufacturing, and packaging capabilities. With over 30 sites across seven countries, PCI works to bring life-changing therapies to patients and addresses global drug development needs throughout the entire product life cycle.
For more information, visit pci.com.
PCI Pharma Services operates in the contract development and manufacturing organization (CDMO) industry. As a global CDMO, PCI offers integrated drug development, manufacturing, and packaging capabilities. With its presence in over 30 sites across seven countries, PCI aims to meet the global drug development needs throughout the entire product life cycle.
The CDMO industry has been experiencing significant growth due to increasing outsourcing trends in the pharmaceutical and biopharmaceutical sectors. Companies like PCI Pharma Services play a crucial role in providing comprehensive services to pharmaceutical companies that may lack the in-house capabilities or resources for drug development, manufacturing, and packaging. The industry enables pharmaceutical firms to optimize their operations and focus on their core competencies while partnering with CDMOs for specialized services.
Market forecasts indicate a promising future for the CDMO industry. Factors such as the rising demand for novel drug development, increasing complexities in pharmaceutical manufacturing, and cost-saving benefits are expected to drive the market’s growth. According to a report by Grand View Research, the global CDMO market size is projected to reach USD 242.6 billion by 2028, growing at a CAGR of 9.5% during the forecast period.
However, the industry also faces challenges and issues that need to be addressed. One significant issue is the need for regulatory compliance and adherence to quality standards. CDMOs must operate in accordance with various regulatory frameworks, including good manufacturing practices (GMP) and quality control measures, to ensure the safety and efficacy of the drugs they produce.
Additionally, the CDMO industry is highly competitive, with numerous players vying for contracts and partnerships. This competition puts pressure on companies to continually innovate, invest in advanced technologies, and provide value-added services to stay ahead in the market.
By publishing its first Environmental, Social & Governance (ESG) Report, PCI Pharma Services reflects its commitment to sustainability and responsible business practices. The report outlines the company’s progress in various impact categories such as carbon footprint, waste management, community impact, and diversity, equity, and inclusion.
PCI’s sustainability goals align with the broader trends in the industry, where stakeholders increasingly prioritize environmental and social factors in their decision-making processes. As the pharmaceutical industry moves towards greater sustainability, CDMOs like PCI are actively working to reduce their environmental footprint, promote responsible waste management, and engage in community initiatives.
To learn more about PCI Pharma Services and its ESG initiatives, you can visit their official website at pci.com.