MSCI Upgrades Innovent's ESG Rating to A

Published on:
by KnowESG
KnowESG_MSCI Upgrades Innovent's ESG Rating to A
Image by zinkevych on Freepik

Innovent Biologics, a leading biopharmaceutical company developing, manufacturing, and commercialising high-quality medicines for major diseases, has been upgraded to an 'A' rating by Morgan Stanley Capital International's (MSCI) latest ESG rating, placing it at the forefront of the biotechnology industry.

MSCI ESG Rating Recognition

The MSCI ESG rating is a widely recognised ESG indicator in the global capital market. Its results provide valuable insights for institutional investors to make informed investment decisions. Innovent's improved rating to 'A' reflects the capital market's recognition of its continuous progress in ESG governance and sustainability, demonstrating its long-term investment value.

Commitment to ESG Integration

Guided by its mission to develop and commercialise affordable, high-quality biopharmaceuticals, Innovent has consistently integrated ESG principles into its corporate management. Aligning its development objectives with the United Nations' Sustainable Development Goals (SDGs), Innovent has enhanced its ESG management in the areas of Excellent Governance, Enjoying Good Health, High Quality as Key, People First, and Green Ecology.

Excellent Governance

Innovent upholds integrity and believes that robust corporate governance, coupled with full compliance and efficient management, fosters sustainable growth and financial resilience. Its ESG governance is directly managed at the Board of Directors level and supervised by the Audit Committee. The MSCI rating improvement further validates the company's efforts in this area.

Innovent has established a sound business ethics management system and a compliance management committee, formulated a whistleblower protection policy, and implemented a regular anti-corruption audit mechanism. It continuously strives to improve its corporate governance in all aspects, including rigorous adherence to business ethics standards, efficient business operations and management and strengthened risk management and control. Innovent is committed to creating a transparent and healthy business ecosystem and fostering collaborations and development among all stakeholders.

Enjoying Good Health

Guided by its strategy of "driven by innovation, developed through globalisation," Innovent heavily invests in R&D, expanding its product pipeline and bringing innovative therapies to address unmet clinical needs and improve patient quality of life.

Leveraging its fully integrated multi-functional platform, Innovent has built a robust product pipeline consisting of 36 valuable assets in oncology, autoimmune, cardiovascular and metabolism, and ophthalmology diseases. Ten products are approved in China, and one is approved in Indonesia (Bevagen®, as the first Chinese antibody drug commercialised and locally produced in Southeast Asia).

Innovent has built an efficient commercialisation platform and a healthy business model with a sales team of approximately 3,000 professionals. It endeavours to promote equality and inclusiveness and to enhance the accessibility and affordability of high-quality innovative drugs for patients. Over 20,00,000 patients have benefited from its marketed products so far.

Currently, Innovent has five medicines (TYVYT®, BYVASDA®, HALPRYZA®, SULINNO®, and olverembatinib) included in China's National Reimbursement Drug List (NRDL), and five medicines (Pemazyre®, Cyramza®, Retsevmo®, and Fucaso®) included in Huimin Insurance Programs, significantly reducing the burden of patients and their families.

Meanwhile, Innovent has initiated and sponsored several public welfare and patient assistance programs. The total value of medications Innovent donated through those programs was worth RMB3.4 billion and more than 1,70,000 patients benefited. Of which, "TYVYT® Shu Xin Ke Yi Patient Rescue Programme" is the largest donation project in the field of oncology in China.

The programme has significantly improved the accessibility and affordability of PD-1 immunotherapy for those low-income patients living in under-developed cities and counties and has made a notable contribution to the goal of Poverty Alleviation in China.

In addition, Innovent is deeply involved in and actively advancing cross-region capability development in the medical industry. In 2022, Innovent collaborated with the National Health Commission Capacity Building and Continuing Education Center to launch the "Xinhuo China" Immuno-Oncology Standardised Diagnosis and Treatment Enhancement Training Programme.

The Programme has trained nearly 1,000 medical practitioners in 100 cities nationwide and has effectively improved the standardisation of oncology medication in county hospitals. Innovent hopes to foster an open, healthy, and cooperative ecosystem for innovation and sustainable development of the healthcare communities.

High Quality as Key

Innovent prioritises product quality as the cornerstone of its mission. The company's state-of-the-art manufacturing facilities adhere to stringent international GMP standards, ensuring the highest levels of quality and safety.

Innovent's established large-scale manufacturing capability and comprehensive quality management system encompass the entire product lifecycle, from research and development to commercialisation.

The company has successfully passed over 40 quality audits conducted by regulatory bodies such as the NMPA, FDA, and EMA, as well as by its global and regional partners. In 2022, Innovent achieved a remarkable 100% success rate in drug substance (DS) batch production.

Driven by a commitment to patient well-being, Innovent continuously refines its production processes and operational efficiencies to deliver safer, more accessible, and high-quality products. The company aspires to establish a sustainable supply chain, enhance quality service, and implement responsible marketing practices to safeguard the rights and interests of patients.

People First

Recognising that its employees are its core assets, Innovent Biologics cultivates a safe, diverse, inclusive, and empowering work environment. The company provides ample opportunities for employee growth and development through various promotion channels and training programmes. It also maintains a comprehensive remuneration and welfare system, along with employee care initiatives, to attract, retain, and empower its talented workforce.

In 2022, Innovent Biologics achieved significant milestones in its employee-centric endeavours. Over 50% of its positions were occupied by female employees, more than 40% of vacant management positions were filled through internal promotion, over 90% of key talents were retained, more than 500 graduates were recruited, dedicated training programmes were established for graduates, and all employees received comprehensive training programmes.

These accomplishments led to Innovent being recognised as a 'LinkedIn Global Best Employer Brand' and placing on 'Universum China's Most Attractive Employers List'. Innovent Biologics strives to be a workplace where employees can learn, grow, fulfill their dreams, and pursue personal development.

Green Ecology

Guided by a deep commitment to sustainable development, Innovent Biologics implements effective measures to conserve natural resources and minimise its environmental impact.

The company operates under a robust environmental management system, integrating environmental and resource protection practices into its daily operations and product life cycles. Innovent proactively explores innovative approaches to reduce water and energy consumption, promote low-carbon development, establish a circular economy, and ultimately achieve green and sustainable development.

Innovent has set clear and measurable environmental management objectives related to water and energy savings, emission reductions, and waste minimisation. In 2022, the company achieved remarkable environmental accomplishments, including saving approximately 30,000 tonnes of water, achieving a year-over-year 51% reduction in energy consumption per unit of product, and obtaining ISO 14001 environmental management system certification for all manufacturing sites in operation.

Since its listing on the Hong Kong Stock Exchange in 2018, Innovent Biologics has consistently demonstrated its commitment to sustainability by publishing its ESG report annually. The company remains steadfast in its pursuit of sustainable development, collaborating with stakeholders to fulfill its overarching mission of "saving lives and improving the quality of human life."

For more investor-related news

To view and compare company ESG Ratings and Sustainability Reports, visit our Company ESG Profiles page.

Source: Innovent


Investors Headlines

IHS Towers Releases 2023 Sustainability Report

IHS Towers Releases 2023 Sustainability Report

TriNet Earns Top ESG Rating from ISS ESG

TriNet Earns Top ESG Rating from ISS ESG

PATRIZIA Strengthens ESG Team for Impact Investing

CapitaLand Investment Steps Up Sustainability Efforts

Sustainability Tops CEO Agendas for Growth, Says Survey

Hershey Releases 2023 ESG Report

SIDC Updates ICF for Sustainable, Shariah Finance

LONGi Showcases ESG Leadership in 2023 Report

Australian Businesses See Lag in ESG Progress

Singapore Leads in Corporate Sustainability Reporting