To fulfill our part in society that is in line with the government's precautions strategy, TTY has introduced inhibitory programs as the virus spreads. Commencing in April 2020, our staff had options to work remotely, take COVID-19 preventive care leave, and commute in dedicated shuttles to and from work. The Autonomous Health Control Chart was put in place to help monitor colleagues' statuses. These practices aimed to safeguard personnel safety as well as maintain investors' faith in us. Furthermore, remote working and meetings were rolled out for two consecutive months as a result of our upgraded applications and hardware systems. We remained safe and healthy while our business operated without interruption. TTY places the well-being of our workforce at the core of the company, and an example of this philosophy in action was the industrial first "Shuttle Bus" plan, which alleviated some of the stress on society by providing a means of safe transport to staff.
In the interim, TTY monitored the progress of the global industry as it sought a cure for the disease. Pharma Mar, one of our partners in Europe, produces Plitidepsin, a new drug used against tumors, which is now believed to have the potential to fight the ongoing coronavirus. In Taiwan, TTY closely observes the clinical results of new drugs and stays in contact with the manufacturer with hopes of introducing safe drugs and/or vaccines with good efficacy to our people.
Material Topics of Concern:
1. Remuneration
2. Operational Performance
3. Ethics and Integrity
4. Recruitment and Turnover Rates
5. Manpower Incubation and Development
6. Workplace Happiness and Health
7. Workplace Environmental Health and Safety
8. Corporate Image
9. Community Welfare
10. Safe Products
11. Customer Service
12. Information Security
13. Regulatory Compliance
14. Sustainable Development Strategies
15. Sewage and Waste Management
16. Air Pollution Control and Energy Management
Material Topic Management Guideline Elements and Assessment
Material Topic | GRI Indicator | Management Guidelines and Elements | Management Guidelines Assessment |
Safe Product | GRI416-1 Assessment of the health and safety impacts of product and service categories | Drug safety control to make sure quality, safe and effective products are accessible to users. | The products are classified into "agents and authorized drugs" and "branded generics". The process and quality of the former should meet drug manufacturing regulations in the country of origin and Taiwan. The latter should comply with manufacturing regulations in Taiwan, and the quality requirements and production regulations stipulated by import countries. |
Regulation Compliance | GRI307-1 Non-compliance with environmental laws and regulations GRI419-1 Non-compliance with laws and regulations in the social and economic area |
The product name, packaging, package inserts, label, and marketing advertisement must comply with regulations. | Package inserts as required by relevant laws and regulations. Links to package inserts are accessible on the Company website. Advertisements should only follow the review by the health authority with an advertisement number. |
Workplace Environmental Health and Safety | GRI403-9 Work-related injuries | Labor insurance, health insurance, group insurance, and accident insurance for all employees; Public accident liability insurance in all workplaces. Manage nurses and physicians to provide staff with professional medical assistance. | Personal protection gear like a glove box, enclosed & isolated facility, and chemical leakage management vehicles to be provided onsite. Employee annual health examination is conducted, and health education follow-up is executed by nurses and physicians. |
Ethics and Integrity | GRI205 Anti-corruption | Strict practice is especially relevant to stakeholders. | The “Ethical Operation Promotion Center” is established based on corporate culture’s ethical operations and development system. |
Corporate Image | GRI102-16 Values, principles, standards, and norms of behavior | As TTY is closely related to the national economy, human health, and Sustainable environment, we were awarded the TCSA 13th Silver Prize in 2020. | TTY has applied stricter corporate governance, and proper communication with stakeholders, which has resulted in a solid performance. For the 5 consecutive years since 2016, TTY has been achieved the top 5%of TPEx-listed companies in the Corporate Governance Assessment. This is the 2nd year in a row that TTY ranked in the top 10% of non-financial and non-tech companies with market capitalization more than NTD 10 billion. |
Operational Performance | GRI201-1 Direct economic value generated and distributed by the organization | Maintain stable operation is required for a sustainable operation. | BoD regularly reviews financial performance and the financial reports are audited by independent professional accountants. |
Sustainable Development Strategy | GRI102-27 Collective knowledge of the highest governance body | Enhance corporate governance to reach sustainable operation. | The Sustainable Development Committee (SDC) aims for the actualization of social responsibility and operational sustainability goals. |
Sewage and Waste Management | GRI303-4 Water discharge GRI306-5 Waste directed to disposal |
To reduce the impact on the environment due to the manufacturing process, Neihu Pharmaceutical Development Center worked together with NCU to develop an Arsenic Ion recycling process. The efficient production follows local regulations for proper waste treatment. | The recycling of As Ion proceeds to separate the arsenic from wastewater produced during manufacturing processes so that the As concentration is lowered to meet discharge standard. The concentration of COD and SS also falls within the local standards. GHG emission disclosure pushes us to minimize energy consumption from every unit product produced. Dedicated waste disposal personnel are in charge of and the submission of the waste disposal plan. Each month articulations with manufacturers are completed with GPS tracking system. |
Information Security | GRI418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data | The intellectual property and confidentiality management system is upgraded to secure Companys’ intellectual property, to reduce the launching risks and information security risks of company products, hence more resources can be invested in the development and protection of new drugs. | The implementation of TIPS (Taiwan Intellectual Property Management System) enforces intellectual property management, regular audits and improvements are implemented and patent infringement risk assessment is conducted for launching products. The information Security (IS) control and execution were enhanced to elevate IS safeguard measures. |
TTY echoes the 17 Sustainable Development Goals (SDGs) of UNDP (United Nations Development Programme), and implements on the three aspects of corporate governance, social participation and environmental sustainability, with specific management guidelines and beliefs. A “Material Topics of Concern Survey” was launched to enhance the communication and interaction between stakeholders and TTY. We identified the 16 major issues by a diverse range of communication channels with the stakeholders that correspond to the 17 SDGs, and focus on 14 SDGs. Those included SDG 1. No poverty; SDG 3. Good health and well-being; SDG 4. Quality education; SDG 5. Gender Equality; SDG 6. Clean water and sanitation; SDG 7. Affordable and clean energy; SDG 8. Decent work and econimic growth; SDG 9. Industry, innovation and infrastructure; SDG 10. Reduced inequalities; SDG 12. Responsible consumption and production; SDG 13. Climate action; SDG 14. Life below water; SDG 16. Peace, justice and strong institutions; and SDG 17. Partnerships for the goals as the main development direction in 2020.
Through the substantive analysis, it is Operational performance and Sustainable development strategies on the economic; on the environmental, Sewage and waste management, Air pollution control and energy management, and toxic substances are more committed to the practice of circular economy; on social, Employees’ salary and benefits, Recruitment and turnover rates, talent incubation and development, Workplace happiness and health, Workplace environmental health and safety, and Customer information security, Customer service, and Safe products; as well as Corporate image and Ethics and integrity, Regulatory compliance and Community welfare in general.
The achievements of the 17 SDGs sustainable development goals:
Goal | Practice |
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• Handmade soaps as shareholder gifts to support the Taiwan Foundation for the Blind • Scholarships and financial aid to students whose families are affected by cancer • Donation to the HOPE Foundation for Cancer Care as an event fund • Donations to social welfare groups and foundations • Donations to at-home care and respite care |
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• Honored Corporate Philanthropy Award by the Taiwan Organ Registry and Sharing Center • Sponsor the “Planting a Seed of Hope” project by the HOPE Foundation for Cancer Care • Support and full transportation fee coverage for individuals that require at-home hospice care. • Sole agent in Taiwan with PharmaMar for effective drug importation • Two cancer-related drug licenses obtained in Mexico • Provided 550,000 public-funded flu vaccines and another 95,000 for self-funding dosages • More than NTD 1.5 billion invested in R&D over the past 5 years • Taiwan Intellectual Property Management System (TIPS) was implemented to minimize the risks of new drug development and launching. • “Family Care Leave” expanded to disease prevention • WFH to minimize groups gatherings • Employee Shuttle Service and Car Pooling • All products in accordance with health and safety regulations and inspections |
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• TTY Summer Internship Program for 13 consecutive years • “Regional Care for the Cancer-Affected” seminars on remote campuses • Health education for cancer-affected people and/or their family members • Educational lectures about osteoporosis and bone health |
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• Of 9 directors in 2020, 2 are women. • 42.65% of females in the Company hold managerial roles or higher key-leadership positions. • Equal pay for equal work, regardless of gender |
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• Co-developed with NCU of As Ion recycling technology. • The water discharged by Lioudu, Chungli, Neihu Factory and the Pharmaceutical Development Department falls within national effluent standards. • Implementation of systematic water management plan |
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• Lioudu and Chungli Factories have conserved 85,936.5 kWh of electricity. CO2 emissions volume has decreased by 47,608.8 (kgCO2e). |
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• Winner of 2020 "Best Companies to Work for in Asia" by HR Asia • The standard salaries for entry level employees of TTY compared to local minimum salaries are 1.54 times more for females and 1.61 times more for males • No supplier committed forced or compulsory labor or other material risks |
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• Trained colleagues and acquired certificates of professional technical management personnel to verify toxic chemicals |
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• TTY human rights policy follows internationally recognized human rights standards. • One feedback was received in January, 2020, and it urged the Company on the dissemination of human rights to ensure that no such case occurs again in the future • Remuneration Committee works in accordance with relevant laws and principles of impartiality |
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• Corporate sustainable development policies and action plans for the Environment, Society, and Governance are drafted by the Sustainable Development Committee |
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• Completed the identification of risks and opportunities brought by climate change • Responsive policies based on those identification results |
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• Took action to support “Do one thing for the Tamsui River” • Guided tour of the Tamsui River Pact and coastal cleaning activities |
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• No employees are forced or compulsory laborers to perform labor services or the employment of child labor • Whistleblowing reward systems and whistleblowing channels • The “Ethical Management Promotion Center” was established to stipulate “Principles of Procedures for Ethical Management” and relevant execution procedures • No corruption or dishonest acts reported in 2020. |
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• Two drug licenses in Mexico initiated the first TTY shipment overseas • Mexico, Columbia, Panama, Brazil, and Argentina are contacts for partnership inquiries. |
Each TTY department communicates with stakeholders through normal business dealings, routine investigations, interview analysis and other methods. The Material Topics to different stakeholders differ according to the nature of business. Therefore, we truly understand the needs and expectations of stakeholders through a diverse range of communication channels, and take into consideration of their perspectives to adjust our operations management. Moreover, we also provide appropriate responses to stakeholders' key concerns.
Establishment of the Sustainable Development Promotion Center
To realize corporate governance, environmental sustainability, social welfare, corporate sustainability, and CSR, on October 7th, 2019, the Sustainable Development Committee was established under the Board of Directors with 5 members nominated from the directors based on the BoD resolution. The Sustainable Development Promotion Center is under the Sustainable Development Committee to enact the responsibility of proposing and executing the relevant policies, systems, relevant management guidelines, and specific action plans. The General Manager acts as the convener, while the Financial Department ensures that the associated policies are promoted appropriately, and the Center makes regular reports to the BoD after reporting to SDC.
With respect to the various sectors of ESG, the Sustainable Development Promotion Center comprises 5 teams of Corporate Governance, Employee Care, Social Participation, Environmental Sustainability, and Product Service. To maintain stakeholders’ reasonable requests and expectations, each team proposed the performance results and future advanced goals of the sustainable topics that they in charge of respectively. It aims to promote business management continuously and duty of social responsibility.
Sustainable Development Promotion Center established the implementation plans for the following year by the end of every year, and proposed to SDC and BoD. The arrangement of year 2022 has been reported to SDC on December 24, 2021, and executed after approval.
Stakeholders | Material Topics of Concern | Communication Channels Between Two Parties | Communication Frequency | Results |
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Government Agencies |
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Visit; Phone; Official correspondence letters; E-mail; Dissemination; Policy and regulation training; GIA (Government, Industry, Academy) seminar; Regulatory audit; Questionnaire | Irregular intervals |
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Employees |
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Annual performance interview and evaluation Labor and employer meeting Personnel announcement; Internal employee website; Sexual harassment complaint channel; Infringement report; Stakeholder complaint box; Orientation plan and satisfaction survey; Worker welfare committee; Internal training and e-learning; External training fund; Questionnaire |
Twice annually Quarterly Irregular intervals |
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Customers |
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Exhibition; Academic event; Educational seminar; Academic platform; Clinical trial; Factory visit and inspection; Visit; Phone; E-mail; Written letter; Questionnaire | Irregular intervals | To produce and provide quality products and market-oriented services for domestic and international customers, the following actions and activities are organized (including but not limited to):
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Investors |
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Annual general meeting; Annual report Quarterly financial report Operational announcement Investor conference Material information announcement; Press release; Corporate website; Phone; E-mail; Investor relation mailbox; Share affairs and investor contact; Reporter Q&A; Domestic and international analysts visit; Questionnaire |
Annual Quarterly Monthly Quarterly or more frequently Irregular intervals |
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Suppliers |
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Supplier survey Supplier audit E-mail; Phone; Visit; Questionnaire |
Bi-annual Annual Irregular intervals |
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Neighborhood & Communities |
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E-mail; Visit; Phone; Meeting; Education; Questionnaire | Annual or Irregular intervals |
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NPOs/NGOs |
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Event; E-mail; Visit; Phone; Meeting; Questionnaire | Irregular intervals |
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