The communicated CSR structure of AstraZeneca and Pfizer - and some reflective suggestions

Abstract

Several patents of description drugs are running out and numerous cheaper generics copies threatens to take place on the market. In order to ensure quality of the products and low burden on the society, regarding environmental and social aspects, the pharmaceutical industry has to find new innovative products or to finding a way of keeping their stakeholders close. We argue, corporate social responsibility (CSR) can be the key to ensure their stakeholders to stay loyal. By this thesis we attempt to visualize and analyse what AstraZeneca AB and Pfizer AB communicate towards their stakeholders on the Swedish market and how their CSR structures can be improved. The CSR structure of the two pharmaceutical companies is generally well developed, but there are still some flaws. The CSR structure of AstraZeneca and Pfizer could be improved by increasing their transparency, defining their key stakeholder, and more frequently acting with philanthropically motivations.