- Source : Business Wire
- Date : 2021-05-13
- Companies : Catalent, Inc.
Catalent Publishes Second Annual Corporate Responsibility Report Highlighting Achievements in an Extraordinary Year for the Pharmaceutical Industry
May 13, 2021 08:59 AM Eastern Daylight Time
SOMERSET, N.J.--(BUSINESS WIRE)--Catalent, Inc. (NYSE: CTLT), the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene and therapies, and consumer health products, today published its Corporate Responsibility (CR) Report for fiscal year 2020. The report covers environmental, social, and governance (ESG) topics relevant to Catalent's business, charting the company's performance against the Sustainability Accounting Standards Board (SASB) standard for the biotechnology and pharmaceutical industries.
Building on the foundation laid with Catalent's first CR report in 2020 (covering fiscal 2019), which set out goals in areas such as energy efficiency, diversity and inclusion, and community investment, this new report highlights the progress made in a year when the company, and the biotechnology and pharmaceutical industries in general, focused on responding to the global COVID-19 pandemic.
“Our 2020 fiscal year was an extraordinarily challenging period for everyone, but it allowed us to demonstrate the importance of our corporate responsibility commitment. At the heart of this commitment is Catalent's “Patient First” philosophy, which has been fundamental to our work developing and manufacturing so many COVID-19 vaccines and treatments for customers as part of the fight against the worldwide pandemic,” commented John Chiminski, Chair and Chief Executive Officer of Catalent. He added, “I am incredibly proud that, throughout these most challenging of times, we have continued to prioritize the needs of people and patients, in line with our values and culture. This, our second corporate responsibility report, continues to formalize our progress in this area, supporting Catalent's aim to be the world's most trusted, reliable, and innovative drug development partner.”
Highlights of the report include wider sustainability commitments that now include water-efficiency and waste-reduction targets, and a goal for all sites to discharge wastewater with API concentrations below Predicted No-Effect Concentration (PNEC) levels by fiscal 2024. Additionally, 50 projects focusing on energy efficiency at Catalent's global facilities were completed through the end of the 2020 fiscal year, with six Catalent sites transitioning to 100 percent renewable electricity sources. In fiscal 2020, the company also developed a human rights statement and expanded its diverse recruiting and talent development partnerships. It also established a well-being forum and adapted how it communicates with its employees, adopted more flexible work practices, and increased mental health and family initiatives, in part to account for the effects of the COVID-19 pandemic on its workforce. The “Catalent Cares” community giving and volunteer program that was launched in fiscal 2018 to strengthen employees' ability to give back to society has seen 500 non-profit organizations benefit in fiscal 2020, alongside a number of COVID-19 grants made to communities in need.
The fiscal 2020 Catalent Corporate Responsibility report is available at https://www.catalent.com/about-us/corporate-responsibility/, and further information can be requested by contacting [email protected]
Notes for Editors
About Catalent, Inc.
Catalent, Inc. (NYSE: CTLT), an S&P 500® company, is the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products. With over 85 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance and ensuring reliable global clinical and commercial product supply. Catalent employs approximately 15,000 people, including around 2,400 scientists and technicians, at more than 45 facilities, and in fiscal year 2020 generated over $3 billion in annual revenue. Catalent is headquartered in Somerset, New Jersey. For more information, visit www.catalent.com
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This release contains both historical and forward-looking statements. All statements other than statements of historical fact, are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “foresee,” “likely,” “may,” “will,” “would,” or other words or phrases with similar meanings. Similarly, statements that describe Catalent's objectives, plans, or goals are, or may be, forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Catalent's expectations and projections. Some of the factors that could cause actual results to differ include, but are not limited to, the following: the current or future effects of the COVID-19 pandemic on Catalent's and its clients' businesses; participation in a highly competitive market and increased competition that may adversely affect Catalent's business; demand for its offerings, which depends in part on its customers' research and development and the clinical and market success of their products; product and other liability risks that could adversely affect Catalent's results of operations, financial condition, liquidity and cash flows; failure to comply with existing and future regulatory requirements; failure to provide quality offerings to customers could have an adverse effect on Catalent's business and subject it to regulatory actions and costly litigation; problems providing the highly exacting and complex services or support required; global economic, political and regulatory risks to Catalent's operations; inability to enhance existing or introduce new technology or service offerings in a timely manner; inadequate patents, copyrights, trademarks and other forms of intellectual property protections; fluctuations in the costs, availability, and suitability of the components of the products Catalent manufactures, including active pharmaceutical ingredients, excipients, purchased components and raw materials; changes in market access or healthcare reimbursement in the United States or internationally; fluctuations in the exchange rate of the U.S. dollar against other currencies, including as a result of the U.K.'s exit from the European Union; adverse tax legislative or regulatory initiatives or challenges or adjustments to Catalent's tax positions; loss of key personnel; risks generally associated with information systems; inability to complete any future acquisitions or other transactions that may complement or expand its business or divest of non-strategic businesses or assets and difficulties in successfully integrating acquired businesses and realizing anticipated benefits of such acquisitions; risks associated with timely and successfully completing, and correctly anticipating the future demand predicted for, capital expansion projects at existing facilities, offerings and customers' products that may infringe on the intellectual property rights of third parties; environmental, health and safety laws and regulations, which could increase costs and restrict operations; labor and employment laws and regulations or labor difficulties, which could increase costs or result in operational disruptions; additional cash contributions required to fund Catalent's existing pension plans; substantial leverage that may limit its ability to raise additional capital to fund operations and react to changes in the economy or in the industry; exposure to interest-rate risk to the extent of its variable-rate debt preventing it from meeting its obligations under its indebtedness; and changes to environmental standards, guidance, or related technological capabilities that may render it more expensive or more difficult to reach environmental goals. For a more detailed discussion of these and other factors, see the information under the caption “Risk Factors” in Catalent's Annual Report on Form 10-K for the fiscal year ended June 30, 2020, filed August 31, 2020. All forward-looking statements speak only as of the date of this release or as of the date they are made, and Catalent does not undertake to update any forward-looking statement as a result of new information or future events or developments except to the extent required by law.