Provepharm obtains B Corp™ certification
Company joins exclusive club of pioneering B Corp-certified pharmaceutical companies
Marseille, France, November 29, 2023 – Provepharm, a leading international pharmaceutical company specializing in medical dyes and antidotes, today announces that it has obtained B Corp™ certification. It joins this global movement of companies committed to combining profitability with their social and environmental footprint. Provepharm now counts among a select group of pharmaceutical industry pioneers who have undertaken to comply with this demanding, international label. To date, only three pharmaceutical companies in France have obtained the B Corp certification.
B Corp certification is granted to companies who meet stringent standards in terms of social and environmental performance, accountability and transparency. Provepharm successfully proved its commitment to these fundamental principles across all its business operations, thereby cementing its position as a committed and responsible member of the pharmaceutical industry. Since it was founded 25 years ago, Provepharm has launched numerous programs in the area of corporate social responsibility (CSR).
Following an in-depth assessment and review process with more than 300 questions, Provepharm was granted B Corp™ certification with a score of 82.8 points. This certification, which imposes particularly high standards, represents international recognition of Provepharm's commitment to ethical, transparent and responsible managerial and commercial practices. In the B Impact AssessmentTM, Provepharm particularly excelled compared to the benchmark score for its performance in workers, community and customers categories.
Some examples of its commitments and specific actions are:
- Improving life for all: Provepharm is setting new benchmarks for innovation based on the potential of existing molecules to ensure greater patient safety, particularly in the field of surgical and endoscopic dyes. Healthcare professionals are consulted frequently to find out whether they are satisfied with the company's products
- Charity and outreach work: In 2020, Provepharm created its own endowment fund for the purpose of carrying out missions of general interest aimed at implementing or supporting projects with a significant social impact and, primarily, at providing academic and career guidance, advocating for health-related issues and supporting meaningful local and regional projects. In 2022, a third of the company’ employees devoted 150 hours to skills-sharing programs (tutoring in schools, support for people alienated from the workplace or for young students from high-priority school networks). For more than ten years, Provepharm has also supported social integration organizations working in the underprivileged districts of Marseille
- EDI and training: Provepharm advocates equal pay for equal work (Egapro gender equality index score of 93/100 in 2022). 95% of employees undertake training every year and, most significantly, managers receive training on responsible leadership practices. The company also obtained Great Place to Work® certification for the third year in a row for the period 2022–2023
“We are proud to have obtained B Corp certification – the result of a collaborative effort by all our teams. It reflects our mission: to improve the life of patients, our employees and our ecosystem, and stresses our mature governance,” said Michel Feraud, chairman and chief executive officer of Provepharm. “We join a community of businesses who are determined to make a positive long-term impact and who, like us, seek to give meaning to their actions.”
“CSR has been an integral part of Provepharm since its conception; it is in our very DNA. The challenge of obtaining B Corp certification was a real motivator for us. It was a demanding, holistic and transparent process that helped reaffirm our belief that we need to walk the talk,” said Frédérique Alverola, chief people & impact officer at Provepharm. “This certification represents our commitment to the future and will encourage us to continually improve.”
Being part of the B Corp community at regional, national and international levels provides Provepharm with a platform to exchange knowledge on current and future CSR issues, to forge links with companies who share similar values and to foster new commercial partnerships. Certified B Corp companies are reevaluated every three years. Globally, 7,000 companies have obtained B Corp certification, 310 of which are in France.