GlaxoSmithKline, Merck and Bristol Myers Squibb “the world’s most ethical companies”

The world’s most ethnical companies are all in the pharmaceutical industry, according to a report.

Covalence, a Swiss organisation which rates the ethical behaviour of the world’s top firms, said that GlaxoSmithKline, Merck and Bristol Myers Squibb had come top of their 2005 annual EthicalQuote rankings.

The rankings rate firms by their performance in 45 different areas, including waste management, labour standards, human rights policies and the social utilities of the company’s products.

“The system integrates thousands of documents found among media, enterprise, NGO and other sources, for producing the EthicalQuote curves,” it said. “These curves measure the historical evolution of the reputation of companies regarding ethical issues.”

Quotes are generated by assessing positive news and negative news on firms from the internet, adding or deducting one point from the company’s rating respectively.

Commenting on the findings, Medicines Australia CEO said: “These findings fly in the face of the occasional grumbles we see in the media about innovative pharmaceutical companies. You simply cannot be rated so highly in the area of ethics without a genuine commitment, backed by action.”

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