This statement is made on behalf of PharmaResources (Shanghai) Co., Ltd. (PharmaResources, the Company or We) pursuant to Section 54(1) of the Modern Slavery Act 2015 and contains our Slavery and Human Trafficking Statement. It outlines the steps we are taking as a business to identify and prevent slavery and human trafficking in our own operations and supply chains. We understand our responsibilities and are committed to improving our approach to combating slavery and human trafficking.
This statement covers the following entities:
PharmaResources (Shanghai) Co., Ltd.
PharmaResources (Kaiyuan) Co., Ltd.
PharmaResources (Chengdu) Co., Ltd.
ShawnYee PharmaTech (Shanghai) Co., Ltd.
PharmaResources (US), Inc.
And all subsidiaries controlled by these companies.
1. Summary
PharmaResources (Shanghai) Co., Ltd. is committed to operating its global business ethically and with integrity in accordance with all applicable laws, directives, regulations and codes to prevent the abuse of human rights and to prevent human trafficking and modern slavery.
2. Organisation Structure
Founded in 2007, PharmaResources is a one-stop CRO/CDMO company focusing on drug discovery and development. It provides a wide range of services including drug discovery, process research, CMC study, pre-clinical and clinical RSM/API manufacture. As a public traded company, it was listed on Shenzhen Stock Exchange ChiNext Board in November 2022, stock code: 301230. The company has several R&D centers and manufacturing facilities, and it keeps strengthening the integration of its service offerings both vertically and horizontally, continuously investing in building new service capabilities and improving management efficiency to meet the needs of the market and customers.
3.Policies in Relation to Slavery and Human Trafficking
PharmaResources is committed to supporting the protection of human rights globally and opposes any form of human trafficking or forced labor in any aspect of our business. Our policies reflect our commitment to act with ethics and integrity in all business relationships, as well as to implement and enforce effective systems and controls to ensure that slavery and human trafficking do not occur anywhere in our supply chain.
There is no harsh or inhumane treatment, including any sexual harassment, sexual abuse, corporal punishment, slavery, mental or physical coercion or verbal abuse of workers, nor are there any threats of such treatment or violations of our business code of conduct as outlined in our recruitment policies.
We are committed to building a workforce free from harassment and illegal discrimination, including discrimination based on race, color, religion, nationality, gender (including pregnancy), age, disability, sexual orientation, gender identity, HIV status, marital status, past or recent military status or any other status protected by the laws or regulations of the places where we operate.
4. Due Diligence Process
PharmaResources prohibits any form of human trafficking or forced labor, both within our organization and by the suppliers and third parties globally that provide goods and services to the Company.
To help prevent human rights violations in the Company’s business, the Company conducts pre-employment background screenings on prospective job candidates and requires all new hires to read and certify to key compliance policies and procedures. All employees also are required to complete training on the Code of Conduct upon joining PharmaResources.
Likewise, the Company is dedicated to being a responsible corporate citizen in every relationship across our global supply chain. Our Supplier Management Program provides PharmaResources with visibility into key supplier relationships and allows us to assess potential supply chain risks from both a business continuity and ethical conduct perspective. The Company also equipped with tools and support from external consultants that improve the completeness and accuracy of our supplier data while also allowing us to gather information identifying potential associated risks.
We have established process to assess the related risk as following:
Continuously monitoring key risk indicators;
Collecting specific data and certifications to better understand Environmental, Social and Governance (ESG) characteristics and performance.
5. Risk Assessment and Management
PharmaResources provides services and products to pharmaceutical and biotechnology companies, government agencies, and academic institutions.
PharmaResources employs more than 1,000 employees directly across the globe and we have contractors who provide critical support to our workforce. By end 2023, we have more than 300 suppliers including fixed assets and construction, energy, and raw material suppliers who provide goods and services to the Company.
Based on the Company’s assessment of our labor practices and supply chain operations globally, we believe that the risk of modern slavery in our workforce is low. This assessment is based upon several factors, including our 2023 Supply Chain Risk Assessment conducted by a third-party consultant, our operational footprint, and most critically, that the Company’s employees and suppliers are not directly involved with the areas of greatest potential risk under the Act (including use of seasonal and migrant workers). Our employees and contractors are typically professionals, including many with medical or scientific training.
6. Training
To ensure that employees have a high understanding of our core values as well as our business procedures and policies, we provide them with ongoing training. And understanding is further enhanced through regular employee activities and communication.
7. Follow-Up Plan
After reviewing the effectiveness of the measures taken to ensure there is no slavery or human trafficking in our supply chains, we plan to take further steps to combat slavery and human trafficking.
This statement is made in accordance with section 54(1) of the Modern Slavery Act 2015 and constitutes the slavery and human trafficking statement of PharmaResources.
