Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:


Responsible business can drive radical innovation in healthcare

Speech by top executive and newly endowed professor Lise Kingo

The healthcare sector is ripe for radical innovation, and the pharmaceutical industry can lead the way if it rethinks its way of engaging with stakeholders. Success depends on three factors: operating according to a new, broader business principle, fostering partnerships and taking on a greater social responsibility. The pharmaceutical industry can rebuild society’s trust if it begins to see corporate responsibility as an opportunity for innovation and not simply as a form of risk management. That is the argument which Professor Lise Kingo will put forward on Wednesday 28 June, in a speech to mark her appointment as Endowed Professor of Sustainability and Innovation in Health and Life Sciences-Based Companies in the Faculty of Medicine and the Faculty of Earth and Life Sciences at VU Amsterdam.

Lise Kingo is a member of the executive management of the Danish healthcare company Novo Nordisk. In her speech, entitled "Corporate responsibility as a driver of innovation in healthcare", she calls upon her own industry to respond to social change and to take public criticism seriously. The industry’s future is at stake: it is criticized for lack of innovation, high costs and for neglecting real needs, in particular the need to combat diseases in developing countries. Its business practices are under scrutiny for lack of transparency, and stakeholders want to see evidence of ethical conduct in everything from clinical trials and animal experimentation to marketing and sales.

According to Lise Kingo, this situation highlights the need for a new and broader business model for the pharmaceutical industry. In fact, she argues, it is high time to rethink how we look at business design for the healthcare sector as a whole. For the industry to be sustainable, it needs to understand its role and responsibility in society, to learn with its stakeholders (including patients’ associations, doctors, insurers and NGOs), and to think beyond its own short-term interests.

Lise Kingo highlights signs of positive change that might help win back public confidence and renew the industry’s long-term business prospects. Many pharmaceutical companies embrace corporate responsibility and report on it. Several large pharmaceutical companies are now listed in the Dow Jones Sustainability Index. Novo Nordisk heads the list of firms in the healthcare sector. Kingo has been the driving force behind the company’s strategic approach to corporate responsibility, and in her speech she uses this to illustrate how and why corporate responsibility can be part of core business.

The healthcare challenges are illustrated by the need for improved diabetes care, which is the focus for Novo Nordisk. Prevention, early diagnosis and effective treatment not only improve the health of diabetes patients, but also help alleviate the increasing burden on the healthcare system and society as a whole caused by the epidemic growth in this disease. Examples from Novo Nordisk’s business approach in the Netherlands and its long-standing collaboration with VU Amsterdam show how better results can be achieved in practice by successful collaboration and new models of engagement.

As part of Kingo’s chair at VU Amsterdam, a research programme will further explore such opportunities for innovation in the healthcare sector. It will also seek to identify how corporate responsibility can be a driver for change in a range of business sectors.

Tanja Terpstra | alfa
Further information:

More articles from Health and Medicine:

nachricht Inflammation Triggers Unsustainable Immune Response to Chronic Viral Infection
24.10.2016 | Universität Basel

nachricht Resolving the mystery of preeclampsia
21.10.2016 | Universitätsklinikum Magdeburg

All articles from Health and Medicine >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: New 3-D wiring technique brings scalable quantum computers closer to reality

Researchers from the Institute for Quantum Computing (IQC) at the University of Waterloo led the development of a new extensible wiring technique capable of controlling superconducting quantum bits, representing a significant step towards to the realization of a scalable quantum computer.

"The quantum socket is a wiring method that uses three-dimensional wires based on spring-loaded pins to address individual qubits," said Jeremy Béjanin, a PhD...

Im Focus: Scientists develop a semiconductor nanocomposite material that moves in response to light

In a paper in Scientific Reports, a research team at Worcester Polytechnic Institute describes a novel light-activated phenomenon that could become the basis for applications as diverse as microscopic robotic grippers and more efficient solar cells.

A research team at Worcester Polytechnic Institute (WPI) has developed a revolutionary, light-activated semiconductor nanocomposite material that can be used...

Im Focus: Diamonds aren't forever: Sandia, Harvard team create first quantum computer bridge

By forcefully embedding two silicon atoms in a diamond matrix, Sandia researchers have demonstrated for the first time on a single chip all the components needed to create a quantum bridge to link quantum computers together.

"People have already built small quantum computers," says Sandia researcher Ryan Camacho. "Maybe the first useful one won't be a single giant quantum computer...

Im Focus: New Products - Highlights of COMPAMED 2016

COMPAMED has become the leading international marketplace for suppliers of medical manufacturing. The trade fair, which takes place every November and is co-located to MEDICA in Dusseldorf, has been steadily growing over the past years and shows that medical technology remains a rapidly growing market.

In 2016, the joint pavilion by the IVAM Microtechnology Network, the Product Market “High-tech for Medical Devices”, will be located in Hall 8a again and will...

Im Focus: Ultra-thin ferroelectric material for next-generation electronics

'Ferroelectric' materials can switch between different states of electrical polarization in response to an external electric field. This flexibility means they show promise for many applications, for example in electronic devices and computer memory. Current ferroelectric materials are highly valued for their thermal and chemical stability and rapid electro-mechanical responses, but creating a material that is scalable down to the tiny sizes needed for technologies like silicon-based semiconductors (Si-based CMOS) has proven challenging.

Now, Hiroshi Funakubo and co-workers at the Tokyo Institute of Technology, in collaboration with researchers across Japan, have conducted experiments to...

All Focus news of the innovation-report >>>



Event News

#IC2S2: When Social Science meets Computer Science - GESIS will host the IC2S2 conference 2017

14.10.2016 | Event News

Agricultural Trade Developments and Potentials in Central Asia and the South Caucasus

14.10.2016 | Event News

World Health Summit – Day Three: A Call to Action

12.10.2016 | Event News

Latest News

New method increases energy density in lithium batteries

24.10.2016 | Power and Electrical Engineering

International team discovers novel Alzheimer's disease risk gene among Icelanders

24.10.2016 | Life Sciences

New bacteria groups, and stunning diversity, discovered underground

24.10.2016 | Life Sciences

More VideoLinks >>>