Governance
Corporate culture & Compliance
Taking responsibility is an important step towards a sustainable future. That is why our business conduct is based on integrity and honesty.
Corporate culture
Our culture is based on team spirit and cooperation, with our employees contributing their different experiences, perspectives and ideas to the company. This type of diversity and engagement is a great enrichment and, together with the exceptional expertise of our employees and an agile corporate culture orientated towards sustainable growth, what makes Formycon successful.
Formycon has succeeded in recruiting and integrating outstanding talents into the organization. In addition, with our newly developed employer branding concept, we not only want to be perceived by applicants as an attractive employer, but we also firmly anchor our basic principles of corporate and leadership culture throughout the organization.
Coffee with your CXO
According to Formycon’s understanding of good leadership, personnel management, employee engagement, sustainable management and corporate success are directly related. That is why Formycon attaches great importance to a culture of mutual trust, which is intended to encourage an open and free exchange of opinions across all hierarchical levels. To encourage such an exchange, we offer regular “Company Meetings” and “Coffee with your CXO” where all employees can participate and ask questions directly to the management. Formycon sees a leadership culture characterized by strong values, empowerment and accountability as essential to achieving the company goals. For this reason, our HR department offers managers training courses on personnel management at regular intervals and advises them in the performance of their management tasks.
„From my very first day at Formycon, I was – and today still am – part of a strong team that supports each other and where everyone interacts at an equal level, regardless of whether I am dealing with my colleagues in IT or with the Management Board.“
Patrick Stevens
Trainee IT specialist for systems integration
Compliance
Formycon’s corporate success depends, among other things, on the expertise of highly qualified employees whose behavior is characterized by a sense of responsibility and ethical principles. Compliance with the Formycon Code of Conduct is one of the cornerstones for responsible and lawful action. Management, employees and all those who act on behalf of Formycon are obliged to comply with our Code of Conduct, regardless of where and in which area of activity they work. Formycon does not tolerate any violations of the Code of Conduct or applicable law, and will investigate any incident of non-compliance. In addition to these measures, Formycon has also implemented a whistleblowing tool enabling the anonymous reporting of potential violations of the Code of Conduct or applicable law. The tool thus helps to create an environment in which ethical behaviour is promoted and violations are effectively uncovered, tracked and dealt with appropriately.
Highly regulated environment
As a developer of biosimilars, Formycon and its business partners operate in a highly regulated environment and are subject to regular audits by official authorities. The main reason for the strict regulation is primarily patient safety as well as the complexity related to the development of biopharmaceutical products. However, ethical, honest and transparent behavior is just as important for us in other areas such as research and development and marketing.
For these reasons, Formycon reviews and monitors all relevant processes, procedures and decisions by internal and/or external persons with regards to compliance. Thereby, we ensure compliance with applicable legal and regulatory requirements, our Code of Conduct and other policies as well as related guidelines and SOPs (Standard Operating Procedures). The relevant requirements are reviewed regularly and adjusted if necessary. Our internal training system as well as random and event-related individual case-by-case reviews ensure that the respective requirements are observed and adhered to.
Animal welfare
At Formycon, all our products must be safe, effective, and efficient and developed in full compliance with legal requirements. For the development of biosimilars, it is usually not legally required to test the drug substances on animals. However, in rare cases, we are mandated by law to conduct testing of our products on animals before clinical trials can take place on humans.
Formycon is aware that animal experiments raise a special responsibility. For this reason, we not only comply with all laws and regulations regarding animal testing, but we also enact strict internal rules to ensure that they are treated respectfully and ethically. These rules are based on the 3R principle – to completely avoid animal experiments (Replace), and to minimise the number of animals (Reduce) and their suffering (Refine) in experiments as much as possible.
A careful evaluation takes place before each study, with specific emphasize on the purpose of the study, the effects on the animals and the reasons why no results can be obtained otherwise. The study will only take place if animal experiments are prescribed by mandatory regulation or results cannot be obtained by an alternative method. In addition, all employees who participate must be properly trained and qualified to conduct animal testing. Of course, this also applies to our business partners and their employees.