Modern Slavery Statement
Modern Slavery Act Statement - 2024
This statement is made pursuant to Section 54 of the UK Modern Slavery Act 2015 by Accord Healthcare Ltd and Accord-UK Ltd (collectively, “Accord” or “we”).
This statement sets out actions taken by Accord to understand and mitigate potential modern slavery risks related to our business and to put in place steps that are aimed at ensuring there is no slavery or human trafficking either in our own business or in our supply chain.
Accord ’s modern slavery statement is based on the definitions set out in the Modern Slavery Act 2015 and is guided by the UN Universal Declaration of Human Rights and the conventions of the International Labour Organisation particularly relating to forced or compulsory labour.
Our Business
Accord’s business is the development, manufacture and sale of medicinal products to hospitals, community pharmacies, clinical groups, dispensing doctors and wholesalers across Europe, Middle East and North Africa (“EMENA”).
Robust processes are put into place to identify and mitigate areas of risk including modern slavery and human trafficking. With dedicated internal resource we are able to manage and develop our principles that govern all areas of risk while ensuring we have a training and awareness framework to mitigate modern slavery and human trafficking.
Our Policies
In our Code of Conduct for Business Partners, Accord takes a zero-tolerance approach to child labour and young workers, forced labour and modern slavery. Business partners should commit to adhering to the requirements, principles and standards set out in our Code of Conduct for Business Partners and communicate these to their employees and business partners.
If any business partner is found to be in breach of the principles of the Code of Conduct for Business Partners, cannot adhere to it in its entirety, or conducts business in a manner that conflicts with our policies, Accord reserves all of its rights, including its right to review the business relationship with the business partner and take appropriate action such as the termination of the contractual relationship.
Our Supply Chain
Accord purchases medicines, pharmaceutical ingredients and components from third party suppliers. Accord’s goal is to work with suppliers who embrace and comply with all applicable laws and our principles, and, in turn, have these suppliers encourage compliance from any suppliers with whom they work.
Due Diligence
Whilst Accord neither requires annual certifications nor conducts formal on-site audits of all of its supplier relationships, we conduct supplier due diligence via a Know Your Business Partner process. This process includes an assessment of the supplier’s modern slavery position, where they are legally required to publish one, a review of publicly available news related to legal and ethical practices/violations and a questionnaire requesting more detailed information about the supplier’s operations and key employees.
Accord is able to offer training support for partners without established compliance frameworks in place.
Assessment of modern slavery risk
Accord’s belief is that the risk of modern slavery in our directly employed workforce is low due to the highly regulated nature of our industry. We recognise that our exposure to the risk of modern slavery increases when we engage with third parties in certain sectors and countries.
Further steps
Accord will continue to review and improve its practices to identify and eliminate potential modern slavery or human trafficking from our business, which includes further development of our Third-Party Risk Management Framework.
Reporting and investigating concerns
Accord employees, business partners and other third parties may raise compliance concerns including those related to modern slavery. All reports will be taken seriously and managed sensitively via a dedicated, supportive and impartial process. Any concerns should be raised either with the respective Accord main contact or via the Speak Up hotline.
Accord investigates all reports of possible misconduct and any unethical, illegal or inappropriate activity. For the financial year ended 31st March 2024 no reports have been received in relation to modern slavery or human trafficking.
Approval process
Accord operates and manages its subsidiaries through policies, processes and systems which are designed to be consistently applied across the EMENA Region.
This statement has been prepared after consulting with the key relevant functions which collaborate to deliver our labour rights risk identification, assessment and management processes for our operations and supply chain.
Date of Statement: September 2024
Paul Tredwell, Executive Vice President, Europe & MENA
Our next statement will follow the year ending 31st March 2025.