Why
are the Standards
important to the success of Schering-Plough?
We work in a unique industry –
healthcare – that is regulated differently from most
other industries in most countries in which we do business.
First, and most obvious, our products affect the health and
safety of people and animals. Second, medicines are bought
or reimbursed by the government in many countries, or by third
party insurers. Whether in a country with national health
insurance, or in the United States, which has a limited number
of government health insurance programs, special laws to regulate
business practices, pricing and price reporting may be in
place to protect the people who use our products and the money
that pays for them. Promotional and pricing practices that
are accepted or common in other industries may not be acceptable
or lawful in our industry. The Standards
demonstrate our commitment to Lead
with Integrity in our highly
regulated business.
Why do honest employees need the
Standards?
People often feel that publication
of a “business practices” code implies that employers
do not trust their employees. Nothing is further from the
truth here at Schering-Plough. Our employees worldwide come
to work every day to do a good job in the right way. Schering-Plough
has had a Business Conduct Policy for years, and the Standards
are the latest revision of that policy. More recently, the
New York Stock Exchange rules (where the Schering-Plough stock
is listed) and laws in the United States (where Schering-Plough
is incorporated) require all publicly traded companies to
have a business practices code. The Standards
comply with those requirements.
Who should follow the Standards?
The Standards
apply to all officers, full and part-time employees of Schering-Plough,
and all subsidiaries worldwide. Temporary workers, vendors,
agents and consultants worldwide, while working for or representing
Schering-Plough, must also adhere to the Standards
and should consult them for guidance when acting on behalf
of the company. The Board of Directors is subject to the Schering-Plough
Corporation Board of Directors Code of Business Conduct and
Ethics, (available at www.schering plough.com) which is consistent
with the Standards
and is in accordance with the requirements of the New York
Stock Exchange. |
