Operating and Growing Responsibly at Alkermes

Oct 31, 2023 1:10 PM ET
Our Approach to Corporate Responsibility

Originally published in Alkermes September 2023 Corporate Responsibility Report

Stakeholder Engagement 

We recognize that our stakeholders – including employees, healthcare providers, patients, caregivers, investors, policy makers, members of the communities where we live and work, and others – are part of a single global community and affect one another. We seek to engage with as many of these stakeholders as we can, so that our approach to the development and commercialization of our medicines is informed and enriched by their perspectives. These efforts are further detailed throughout this report.

We are also committed to engagement with our shareholders and other stakeholders to solicit and better understand their insights on our business and our ESG activities. Feedback is discussed with management and relayed to our Board of Directors (the Board) and the committees of the Board, as appropriate. Following careful consideration of feedback received, and taking into account the evolving needs of our business, our management and Board have taken several actions in recent years to further strengthen our business, our corporate governance practices and our executive compensation programs, as outlined in greater detail in our proxy statement for our 2023 annual general meeting of shareholders, which is available on the SEC Filings page of the Investors section of our website.

Operating and Growing Responsibly

Corporate responsibility is inherent in our mission as an organization that actively works to support people living with opioid dependence, alcohol dependence, schizophrenia or bipolar I disorder and tries to help break down barriers that prevent people from accessing care. As we do this important work, we strive to manage our business in a manner that promotes transparent governance and strong ethics; maintains extensive patient, employee and other stakeholder engagement; and helps us grow our organization strategically, sustainably and responsibly, including with respect to our ESG impacts. The following ESG pillars are deeply integrated into our business, and we continued to formalize our commitment to these pillars with the inclusion of goals related to corporate responsibility in the Company’s annual corporate objectives for each of 2022 and 2023 and the corresponding incentive compensation plans.

  • Environment: We think broadly about our commitment to responsible environmental stewardship. We have implemented enterprise-wide Environmental, Health, Safety and Security (EHSS) risk initiatives and management strategies designed to mitigate or reduce risk, protect employee health and safety, minimize our environmental impacts and enhance the sustainability of our operations.
  • Social: We approach our societal impacts from the inside-out. We start by fostering a creative and collaborative workplace culture in which employees have access to resources and support that can help them thrive personally and professionally. Beyond our internal operations, our patient-centered approach drives external-facing efforts such as our patient engagement and advocacy activities, support of employee volunteerism in local communities, and our corporate grant programs, which seek to help address some of the complex challenges faced by patient communities in our therapeutic areas of focus.
  • Governance: We govern our organization through strong ethics and corporate governance practices, comprehensive management and Board oversight of our business and operations, compliance with applicable laws and ongoing engagement with internal and external stakeholders. Our governance policies and practices are designed to support risk mitigation, enhance the security of our people and information, maintain our commitment to product quality and patient safety and encourage each person at our organization to play a role in helping our business grow in a strategic, efficient, compliant and sustainable manner. In 2022, we established an Executive ESG Committee whose role is to oversee our ESG strategy, risks and opportunities.

Read more