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Chiesi USA Attains Public Benefit Corporation Status, Pledges to Advance Positive Community Impact
Chiesi committed to expanding its purpose, accountability and transparency
CARY, N.C., Jan. 11, 2019 (GLOBE NEWSWIRE) -- Chiesi USA, Inc. (key-A-zee), a Cary-based specialty pharmaceutical company, recently confirmed its designation as a Delaware Public Benefit Corporation, expanding its commitment to operate as a good corporate citizen.
“This is a crucial step for Chiesi to stay relevant in the world today, especially as people keep a close eye on companies’ values and their commitment to society,” said Ken McBean, President and Chief Executive Officer of Chiesi USA. “We’re excited and motivated to hold ourselves accountable to strengthen our community through our work both inside and outside our walls.”
Chiesi’s impact in the community can be seen through Chiesi in the Community, the company’s employee-led corporate social responsibility program that focuses on supporting local and national nonprofit partnerships, including a Keystone Initiative in local elementary schools. Chiesi’s commitment to improving the health and well-being of its communities culminated in financial donations exceeding $850,000 and employee time donations of approximately 1,600 hours in 2018.
As a benefit corporation, Chiesi USA expands its promise by focusing on the following key areas:
- Purpose: Operating in a responsible and sustainable manner and producing a public benefit or benefits.
- Accountability: Balancing its stockholder’s pecuniary interests, the best interests of those materially affected by its conduct and the specific public benefit or benefits.
- Transparency: Reporting biennially to shareholders about the company’s social and environmental performance and its successes in achieving the public benefit purpose.
“Our benefit corporation status isn’t the end goal,” said Josh Franklin, Senior Vice President of Marketing and Corporate Development, Chiesi USA. “We strive to constantly expand our efforts by asking ourselves what more we can do in the local community and beyond. We view this achievement as an important next step toward achieving global B Corp certification, which expands our commitment to purpose, accountability and transparency beyond the United States.”
Benefit corporation laws have been passed in 34 states and Washington D.C., with six more currently working on the legislation. B Lab is the nonprofit that is the driving force behind benefit corporation legislation to generate a global movement of people using business as a force for good and to make it meaningful and lasting.
About Chiesi USA
Chiesi USA, Inc., headquartered in Cary, N.C., is a specialty pharmaceutical company focused on commercialization of products for the hospital, rare disease and target office-based specialties. Key elements of the company’s strategy are to focus its commercial and development efforts in the hospital and adjacent specialty product sector within the U.S. pharmaceutical marketplace; continue to seek opportunities to acquire companies, marketed or registration-stage products and late-stage development products that fit within the Company's focus areas. Chiesi USA, Inc. is a wholly-owned subsidiary of Chiesi Farmaceutici S.p.A. For more information, visit www.chiesiusa.com.
About Chiesi in the Community
Chiesi in the Community is Chiesi USA’s employee-led corporate social responsibility program. The mission of the program is to improve the health and well-being of the communities where we live and serve. The program is comprised of four main pillars: Stakeholder Engagement, Local Sociocultural Enhancement, Therapeutic Areas and Keystone Initiative. Chiesi works with many nonprofits in the Triangle area focused on underserved youth. In addition to local nonprofit support, the company’s Keystone Initiative is focused on local elementary schools; working with staff, parents and local partners to implement sustainable programs designed to make positive change in the overall student learning experience. On a national scale, Chiesi continues to support the efforts of groups within the therapeutic areas they serve, such as the March of Dimes, American Heart Association and cystic fibrosis nonprofits.