Biogen Idec Inc
If we are talking about the company that has accoladed as the best place to work in Canada, the Top Places to work and the company of the year in Denmark, there is no other company besides one of the most well known biotechnology company, Biogen Idec.
Biogen Idec was merged between two companies, Biogen and Idec. Biogen Idec was formed in the year of 2003 and the merger has become one of the most successful merger in the history with a good strategic fit. The company itself has many branches all around the world and has its international headquarters located in Paris. It shows that there are approximately 7000 employees worldwide. Inclusively, Biogen Idec is well known for a global biotechnology company which develop and strive to improve lives thru its products and capabilities in three main areas; Neurology, Hematology and Immunology. There are two major drugs used to those who has suffering from cancer and multiple sclerosis. In addition, Biogen Idec also expanded their pipeline with product candidates for disease with few or no treatment to cure such as Alzheimer’s disease, sickle cell anemia and beta thalassemia. Their core competency lies in drug discovery, R&D, bio-manufacturing and commercialization.
Additionally, their sales volume has been increasing each year since 2011. Comparing the data in those three consecutive years, its 2013 total revenues hit the peak of $6932 millions. Which drives Net income and Earning per share at $1862 million and $7.81 per share respectively. Biogen Idec is listed on the NASDAQ stock exchange under the symbol BIIB. In this year, Biogen Idec was ranked at #375 in Fortune 1000 as in June 2014. According to CEO, George A. Scangos, Ph.D., he believes that CSR and Sustainability is very important and that is the reason why Biogen Idec has become this far. He also stated this year was a year where they strengthened their commitment to corporate citizenship and environment sustainability. Lately, they have been planning out new environment goals, expanding their philanthropic by educating and investing in their employees and involving with various organizations that supports patients in need. Since they are trying and continuing to shape the real meaning of good corporate citizenship, both as an expanding enterprise and also a leading biotech. For a better understanding of the context of CSR and Sustainability. There are three different sections described below which include Employees, Community and Environment.
Biogen Idec is one of the most leading company who truly cares about the lives of their employees. They believe and hope to improve and bring a better life to every single employee. They has a strong belief that their future depends upon a workplace. They try to support those employees to grow their careers and achieve their objects both inside and outside the office. Biogen Idec give all employees an opportunity to share their feedback by doing the survey. Because of the survey, Biogen Idec has been able to make improvements in a number of important areas. The company itself highly value their employees and understand the fact that diversity, people with different background, perspectives and life experience, makes them stronger as a company. In 2013, Biogen Idec achieved a perfect score of 100 on the Human Rights Campaign Corporate Equality Index, significantly improved from the previous year. Recently, Biogen Idec launched a Global Diversity + Inclusion program to further elevate their company’s commitment to diversity and inclusion across three important sectors- patients, workforce, and suppliers.They are mostly focused on continuing to advance leadership opportunities for women by closing the gender gap. it shows that there are 3 women on board of director with Biogen Idec (of 11). Furthermore, the company also support ReachOUT Employee Resource Network. This organization works to increase awareness and acceptance of the LGBTQ community within Biogen Idec. This group successfully advocated for an explicit reference to “gender identity and expression” in their company’s inclusion policy, which helps improving their Corporate Equality Index rating. They supported the extension of tax benefit and became one of the few companies in the U.S. to offer transgender health coverage.
In addition, they value nothing else more than ever that Biogen Idec employees feel valued for their hard work. Employees are treated fairly while working in the company. They provide several new work-life balance initiatives to help their employees in achieving their best. In 2013, they gave a week off for employees. Also, employees who work 6 years are eligible for a four-week, fully paid sabbatical leave. By doing so, they believe that taking a time off from work and engage in personal pursuits will bring something good to Biogen Idec; increased in creativity and productivity. Moreover, they also continue their growth trajectory by collaborating with Worcester Polytechnic Institute to develop and deliver the University’s Biomanufacturing Education and Training center for their current employees who want to gain a deeper understanding of how the manufacturing process works and other knowledge which related to the biotech field. Last but not least, they also keep track with employees health and safety related incidents and events and to come up with the preventive way. In 2013, they spend another $300000 to further expand the health and safety program. Thus, there is no doubt on why 97 percent of their employees are proud to be associated with Biogen Idec.
Biogen Idec is very good at giving back to community. There are numerous of activities and organizations that are involved. Striving to improve lives in the community is a fundamental element of Biogen Iden commitment to corporate citizenship. They focus on STEM (Science, Technology, Engineering and Math) education and the reach of Biogen Idec foundation have expanded globally as they want to reach the youngest learners all the way up to those who are pursuing in science career field. As the company, they believe accessible education should be easily available to reach for all children worldwide. In 2013, the foundation awarded $5 millions in grants worldwide. Notable STEM initiatives include, Museum of Science in Boston,MA, North Carolina Museum of Natural Science in Raleigh, NC, and Community Lab. Biogen Idec care both domestic and international community. Lately, they support the Experimentarium mobile science programming in Denmark, UK Science Museum’s International Women’s Day celebration early career female scientist and many more. In conclusion, Biogen Idec is very generous to community since they don’t only focus on monetary but also community. This could be one of the component which make Biogen Idec become successful.
Biogen Idec Corporate Sustainability Council has set its company’s sustainability vision and strategy. This council helps the company reaching the goal easily by outlining the goals. Back in 2009, they set up the goal by reducing overall environmental footprint 15 percent by 2015. Recently, they met 2015 goals ahead of schedule, reducing footprint by 18 percent. The company has its clear point to rethink the way they use the resources and they have made significant progress in recent years. Biogen Idec never stops coming up with new ways to reduce their environmental pollution. According to what it shows in the report, they installed electric vehicle charging stations at their campuses for employee use. This has such a powerful impact in decreasing their employees carbon footprint by driving EVs. They are concerned in four key areas; water use, energy use, GHG/ Energy emissions and solid waste to landfills. As in result in environmental performance, compared against 2006 baseline, water intensity has been decreasing 66 percent, 57 percent for energy intensity, 64 percent and completely 100 percent on solid waste to landfill. Biogen Idec is also a partner of many different programs. Such as EMD Millipore recycling program to assess the viability of collecting and recycling hard-to-process material such as tubing, pallets and packaging. In 2013, they collected over 80000 pounds of waste which eliminated an estimated 83000 kg of CO2 emissions.
In conclusion, each business need to care other things besides focusing only their profit they made.
Like Biogen Idec, the company itself care every single stakeholders rather than the money they have received. We are often see many successful companies invest in sustainability and social responsibility rather than doing nothing. Because of doing so, they become one of the most powerful leading company. I personally believe that to become the top one, you have to care about your own employees, community and environment.
Hi there! Click one of our representatives below and we will get back to you as soon as possible.