SUMMARY
This article presents an evaluation of the usefulness of information disclosed in the reports of pharmaceutical companies. The main purposes of this research is to assess the transparency of the proposed metric, assess the inter-firm comparability of non-financial reporting data, and to identify the practical usefulness of the disclosed information for international pharmaceutical companies.The methodological basis of the research is the harmonisation of the requirements of business practice standards with financial reporting standards. This paper utilises an analytical method based around the proportional-typical selection of stable structured performance indicators for companies. The authors were not limited to information requests from investors in one country, individual companies, or the priority areas of interests of relevant persons or entities. Rather, the study approach was implemented and designed with the multilateral considerations of a plurality of stakeholders in mind. The research database was compiled with data from the reports of five companies (Johnson & Johnson, Novartis AG, Merck KGaA, Sanofi, and Takeda Pharmaceutical Co. Ltd.) retrieved from the Global Reporting Initiative Database. Data from the financial reports of 20 pharmaceutical companies, retrieved from the Access To Medicine Index System, was utilised, with the sample data spanning the years from 2014 and 2016. The results of the study indicate that the total position of the 5 companies studied has increased from 8th to 6th place. The result of the ratio of growth rates as concerns their total revenue, capitalisation, and long-term capital is positive when compared with the growth rate of the quality of their disclosure of non-financial indicators. The strongest such relationship is in the area of attracting long-term capital, followed by the growth in capitalization, and the smallest relationship is in the area of revenue growth. The format presented here, of the minimum required set of harmonised indicators, helps to increase the confidence of stakeholders in the financial and non-financial information of socially responsible companies. The novelty of the results obtained in this study consists in using a metric expression of the quality of reporting indicators to assess their usefulness in the business practice of companies with a production profile. The results obtained allow us to make a generalised conclusion that useful information, generated on the basis of the harmonisation of structured data from financial and non-financial statements, contributes to increasing the level of business activity and its comprehensive performance for all parties involved in the company's affairs.