How Big Pharma is using DEI for Change

20/06/2023

Pharmaceuticals

As the world becomes more globalised, companies across all sectors are putting greater emphasis on fostering diversity, equality, and inclusion (DEI) within their organisations. The pharmaceutical industry, also known as “big pharma,” is no exception. In fact, leading pharma companies are playing a pioneering role in advancing DEI both within their own systems and throughout the larger healthcare ecosystem.

Big pharma corporations understand that supporting DEI is both a moral and a business responsibility. Research has proven that diverse teams are more creative, efficient, and adept at addressing problems. Interestingly, 2021 research by the international consulting company McKinsey & Company found that women make up 26 percent of executive teams in the United States, 23 percent in Canada, and 22 percent in Europe. Although these percentages have grown over time, there is still a significant gender disparity at the executive level in many organisations. In addition, supporting DEI may aid businesses in better comprehending the special requirements and difficulties faced by marginalised communities and in their efforts to improve health outcomes for all.

Zooming in on the significance of DEI in big pharma

Life-saving drugs and therapies are developed and made available by the pharmaceutical industry. Therefore, it is essential that the industry is inclusive, equal, and diverse. For an understanding of the various requirements and difficulties faced by the patient population it serves, the industry must be representative of it. The industry must also make sure that all patients, regardless of their colour, ethnicity, gender, or socioeconomic status, have equitable access to healthcare including medication and treatment facilities.

Let us dive deep into what strategies big pharma companies use to encourage inclusion, equity, and diversity within their own organisations.

By diversifying their leadership and personnel, leading pharma companies are pushing DEI in one way or another. This entails establishing diversity objectives, sourcing and hiring from various talent pools, and offering marginalised workforce opportunities for career advancement. Take for instance, Johnson & Johnson wants to achieve gender parity in executive positions by 2025. The company also created a Diversity and Inclusion Council to manage its DEI activities and offers training on unconscious bias to every employee.

To promote DEI, big pharma companies are also spending money on training and education. As part of this, organisations provide unconscious bias training and create employee resource groups. Pfizer, for instance, has created a Global Diversity, Equity and Inclusion Council to manage its DEI programmes. The council, which is composed of senior executives from several departments within the company, is in charge of advancing diversity and inclusion in all facets. All employees at Pfizer receive training on unconscious bias, and employee resource groups have been developed.

Using DEI to establish collaborations that matter

Big pharma firms are also collaborating with a variety of groups to advance DEI inside the healthcare industry. To improve access to healthcare and advance health equity, this includes collaborating with patient advocacy groups, neighbourhood associations, and other healthcare providers. For instance, Roche and the American Heart Association are working together to reduce health inequalities and enhance cardiovascular health in underprivileged areas. A Diversity and Inclusion Board has also been established by Roche to guide the organisation’s DEI programmes.

Another move big pharma corporations are taking is to push for regulatory modifications to advance DEI inside the healthcare ecosystem. This involves speaking out in favour of laws that support health equity, lessen healthcare inequities, and improve access to care for groups that are marginalised. An example of this is Novartis that has pushed for laws that encourage inclusion and diversity in the pharmaceutical sector. The company also created a Global Diversity and Inclusion Council to manage its DEI programmes.

To manage its DEI programmes, Merck has also created a Global Diversity and Inclusion Council. Senior executives from various parts of the organisation make up the council, which has the responsibility of seeing to it that inclusion and diversity are incorporated into every facet of the company.

To encourage diversity and inclusion inside the company, Bristol Myers Squibb has created a Diversity and Inclusion Council. The council, which is composed of workers from several departments within the business, is in charge of creating and carrying out DEI ideas. For the purpose of managing the business’s DEI initiatives, Roche has created a Diversity and Inclusion Board. Senior leaders from within the organisation make up the board, which has the responsibility of advancing diversity and inclusion in all facets of the company.

Improving access to healthcare

Big pharma companies are attempting to improve marginalised groups’ access to healthcare. Companies are creating medications and treatments for conditions like lupus and sickle cell anaemia that disproportionately plague minority communities. To offer free or inexpensive healthcare to these people, businesses are also collaborating with community health organisations.

Regardless of our location or position in society, it’s important for all of us to recognize and address inequality. Although it can be tempting to feel hopeless or become negative, it’s more productive to collaborate, learn, and strive for personal and professional growth. There are many challenges to be tackled, and instead of dismissing them, we should take action and work towards solutions.

The Way Forward

Big pharma firms should establish clear objectives and monitor their success in attracting, elevating, and retaining diverse staff at all levels of the organisation. To make sure they stay applicable and significant, these objectives should be frequently evaluated and revised. They should offer training and education programmes on subjects like unconscious bias, diversity, equity, and inclusion to all employees, including managers and executives. These initiatives should be ongoing and aimed at developing an inclusive and encouraging workplace culture.

A high priority should be placed on diversity and inclusion. In order to achieve this, it is important to make sure that the executive teams and boards of directors are inclusive and varied, with representation from a variety of backgrounds and viewpoints. Organisations should work hard to make sure that the populations represented in clinical trials are diverse and well-representative. This entails enlisting individuals from a variety of demographic groups and taking action to remove any participation barriers.

Last but not the least, to address health inequities and advance diversity and inclusion in healthcare, a healthy collaboration is critical between community organisations and advocacy groups.