To ensure good governance throughout the organization, we have systems in place that control how the company takes decisions, meets its legal obligations, and achieves its operational requirements. We have an ethical, value-driven culture in which issues are addressed swiftly and transparently. We do this through a culture based on dialogue, respect, and integrity.
We believe that we should operate responsibly through business ethics and a policy framework to build a sustainable organization. This benefits society and creates value for our shareholders and other stakeholders. Good governance helps us attract and retain talent, manage costs, and build trust with employees, customers, patients, suppliers, and stakeholders.
Oncopeptides is dedicated to operating in an ethical manner and have focused on strengthening our legal team in our continued efforts to mitigate risk. We are committed to our efforts as we develop the structures we need to ensure that we operate and grow our business responsibly and sustainably.
Our approach to responsible governance
The establishment of our core values is a key component in our efforts to build a strong, unified culture across our operations, and thereby further improve how we work together across the company.
We frequently review our Code of Conduct and plan to improve employee engagement.
We have continued to develop our governance structures and routines and recruited a General Counsel, part of our efforts to build up the firm foundations we need to ensure rapid, responsible growth. Through management restructuring, the Head of US Commercial Operations became General Manager of the US business unit during 2020. This change streamlines our organization while improving the efficiency of our US regional operation and the interface between the US Business Unit and our global headquarters in Stockholm. Furthermore, our structure is now scalable as we build an EU Business Unit with a similar connection into the global headquarters. We have hired a Head of US Legal & Compliance and additional members to the legal team, such as Legal and Compliance Directors, to prepare a compliance program focused on interactions with healthcare providers and organizations, and to ensure that we operate within the applicable legal frameworks.
Governance issues in our operations
Oncopeptides is a rapidly growing organization, and that can create risk. We work closely with external partners, such as with academia, universities and healthcare providers, which may increase risk. Having clear governance structures helps us mitigate and manage risk.
We work broadly on establishing standardized routines by, for example, preparing for regulatory inspections with pre-mock trials to minimize the risk of one of our candidates being rejected. We also conduct quality audits of our drug product suppliers to ensure that they met contractual obligations. As we continue to improve the quality of our supply chain management, we plan to further standardize our relationships with suppliers with greater rigor in supplier agreements in terms of ethical matters. Companies that supply Oncopeptides with drug products are already required to meet strict regulatory obligations as well as ethical standards. We continuously review the ethical commitments in our standard service contracts relating to labor law, environmental legislation, and UN conventions on corruption, child labor, and human rights.
Anti-corruption is always a key area for the pharmaceutical industry and is an area we treat with the utmost seriousness. It is an area on which we are highly focused and have developed a detailed program, including an anti-corruption policy.