Farmak was recognized the most transparent company in the pharmaceutical market of Ukraine according to Website Transparency Index of Ukrainian companies study in 2015, initiated by the Center for Development of Corporate Social Responsibility.
The Transparency Index based on the Beyond Business methodology is intended to assess the websites of public companies in different industries with respect to completeness and accessibility of CSR information. In 2015, they assessed 87 large-scale companies in Ukraine.
The participants of the transparency rating were assessed, based on four criteria: availability of company’s social and environmental reports; information disclosing level for key corporate social responsibility areas; user-friendliness with respect to information on company’s social and environmental responsibility, and company’s multi-lingual website accessibility. According to the Index methodology, Farmak has got 48 points, the highest level of transparency among pharmaceutical companies.
Maryna Saprykina, Director of the CSR Development Center: “The Center has been engaged in transparency index assessment from 2011, based on the methodology developed by Beyond Business (Israel) and the CSR Development Center. One can trace evolution of the Ukrainian companies’ transparency over five years, and Farmak is among others. For us, the Index is a soft tool, which facilitates monitoring of Ukrainian company’s transparency and CSR development. In Europe, there are mandatory tools for large-scale companies, e.g., the Directive “On Disclosure of Non-Financial Information in Annual Financial Statements."
The main feature of the Transparency Index is that anyone may review it just visiting the company's website and reading the information on social activities for the national benefit.
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