US pharma lobby ousts 22 drugmakers amid pricing debate
The pharmaceutical industry’s powerful Washington trade association fell in size by almost two dozen companies after revising its membership rules. Pharmaceutical Research and Manufacturers of America (PhRMA) will now require that members spend at least $200 million a year on research and development, and that their R&D spending is at least 10 percent of global sales. The changes will result in a trade group made up of mostly large, established drugmakers, such as Pfizer, GlaxoSmithKline and AstraZeneca . Some smaller companies that have attracted the ire of insurers, patients and politicians for buying older drugs and raising their prices will be shut out. Critics of such practices range from patients to President Donald Trump, who has accused drugmakers of “getting away with murder.” (Bloomberg)
Climate Change
SAP vows to go carbon neutral by 2025
German business software giant SAP has this week provided an update on its wide-ranging sustainability plans, revealing a new goal to make its operations carbon neutral by 2025. The company has pledged to build on existing initiatives by boosting energy efficiency through efficient coding of new software applications. The company is also using its new internal strategy to promote the wider benefits of IT infrastructure in delivering global emissions reductions in line with UN goals. Underpinning the ‘carbon neutral’ pledge are investments in re-forestation and climate protection projects such as the Livelihoods Fund, which SAP has pledged to provide €3 million for projects in Africa, Asia, and Latin America. Other investors in the Fund include Danone, Schneider Electric and Mars. (BusinessGreen)
Employees
John Lewis takes £36m hit for minimum wage error
John Lewis has taken a £36 million hit to profits to cover potential back payments to staff after breaching National Minimum Wage rules. The UK retailer said employees were paid the correct amount over the course of the year, but those on hourly rates had sometimes seen pay dip below the minimum wage when they worked extra hours, technically breaking the rules. The error comes three years after John Lewis was forced to pay employees an extra £40 million when it realised it had been miscalculating holiday pay for seven years. Other firms to have fallen foul of pay rules include Tesco, which said in March said it was compensating 140,000 current and former staff. In February, Debenhams and Argos also revealed staff were paid less than the national minimum due to payroll mistakes. (BBC)
Policy
Next UK government must prioritise renewables to boost economy, says RenewableUK
Renewable energy trade association RenewableUK has launched its Powering Britain manifesto in the run-up to the UK general election, and called on the next government to embrace renewables and flexible energy. On Tuesday, the Conservative party confirmed that a price cap on energy bills would form part of its election manifesto, but RenewableUK urges investment in renewables as a means to lower costs instead. The manifesto calls for the creation of a modern and flexible energy grid and infrastructure that plays to the strengths of renewables, which can only feed the grid during certain conditions. It notes that renewable energy companies will invest more than £15.6 billion in UK infrastructure between 2016 and 2021 to boost capacity and production. (Edie)
Boston to pursue zero waste, hopes to trim $37m annual hauling cost
The city of Boston hopes to cut down its $37 million annual waste hauling costs by pursuing zero waste. The city’s contract for hauling and recycling is up for re-bid next year, and the city chief of environment has said it will be exploring required compost pickup and tracking technology. At least two other cities, San Francisco and Los Angeles, have already adopted a zero waste policy and are working toward their zero waste goals. Los Angeles first adopted its zero waste plan, which included establishing a franchise waste and recycling collection system, in April 2014. (Environmental Leader)
COMMENTS