Innovation key to pharma sustainability

As companies face pressure from consumers and governments, sustainability and ethical practices are now on top of the agenda for all industries. Not only is this an environmental imperative for pharma firms, but a business necessity.

The pharma sector faces growing demand to address environmental problems, such as reducing the amount of waste, limiting the use of single-use plastics or fossil fuels, as well as complying with new standards around chemical sourcing and waste from development.

The sector has come a long way in this regard, with companies doing a lot more in response to criticism that they’re not doing enough for the environment. The International Innovation Barometer (IIB) has shown that the pharma industry is investing significantly in sustainable innovation, with 18% of respondents dedicating 26-50% of their budget on sustainable innovation, which is compared to an average of 14% across all sectors.

Take GlaxoSmithKline for example. Since 2010 it has reduced its carbon emissions by 34%, water usage by 31% and the waste sent to landfill by 78%. This change has been driven by implementing new waste management systems for carbon neutrality and using more green chemistry, for example, the use of using greener solvent and emphasising catalysis and enzymatic chemistry. Significant strides have also been made when it comes to ethical practices, such as phasing out animal testing in non-medical settings, with higher standards of public and regulatory scrutiny.