Endo International, the specialty pharmaceutical company with its U.S. headquarters in Malvern, has published an extensive report on how it manages the risks from selling opioids, writes Catherine Dunn for the Philadelphia Inquirer.
The report details the new measures implemented this year to retrieve incentive pay from senior managers when gross negligence and fraud occur. The report also explains the role Endo’s board has in monitoring company compliance with federal law, and the “management of risks associated with the evolving opioid litigation.”
Endo produced the report after talks with the Investors for Opioid Accountability coalition. This consists of 53 asset managers and retirement funds with $3.4 trillion under management. It has been pressing opioid distributors, manufacturers, and retailers to publicly show the ways their boards are handling the risks from selling opioids.
Following the report, Donna Meyer, coalition co-founder and director of shareholder advocacy for Mercy Investment Services, called Endo a model for other companies.
“They have a comprehensive, public policy and are committed to following it,” she said.
Read more about Endo in the Philadelphia Inquirer here.