The Ethical Issues Of Pharmaceutical Companies - 1841 Words

Pharmaceutical companies, like other companies involved in development of new products and services, must find equilibrium in stakeholder interests. Often, the interests of one stakeholder cluster will conflict with the interests of another stakeholder group. For instance, productivity and sales may benefit shareholders and employees, but may not help consumers, if a product is unsafe. The safety of the new AD23 drug for Alzheimer s comes under supplementary scrutiny, as it did not receive FDA approval before being presented to patients. Pharma Care bypassed FDA consent by evolving a subsidiary, Comp Care, to serve as a compounding pharmacy filling instructions for the drug ordered by physicians. The ethical concern is based on promoting a product without knowing all the possible side effects or harm caused to patients, without the improvement of conducting clinical legal proceedings and seeking FDA approval. Off label use of prescription medicines is often promoted with little rigid data to help clients and their physicians make sound, safe choices for usage. With the globalization in world budget, business ethics became essential necessity for companies. Business to business ethics of applicable behaviors in the long-term achievement of businesses in a positive direction, otherwise it has been the supremacy to adversely affect the behavior. As a result, the breakdown of ethical scandals has emerged released in the United States of America and Europe. Business, whichShow MoreRelatedEthical And Corporate Responsibility Of The Pharmaceutical Company Pharmacare And The Human Rights Issues Associated With It2152 Words   |  9 Pagesresponsibility of the organizations to promote and conduct responsible and ethical business practices at every level but, also they should make sure that their contractors and vendors are aware of these practices. In this paper I will analyze PharmaCARE’s ethical and corporate responsibility around its products, operations and commitment to stakeholders as well as several scenarios of the pharmaceutical co mpany PharmaCARE and the human rights issues associated with it. I will also discuss PharmaCARE’s environmentalRead MoreEthics Of The Health Care Industry995 Words   |  4 Pagesare one of the most important cornerstones of patient care. Making ethical decisions, being vigilant in the lack of ethical decision making, and being proactive in the reporting and advancement of ethical practices are important factors for marketing professionals such as physicians and other health care professionals to be wary of. Conduct by pharmaceutical representatives and ethical practices in the marketing of pharmaceutical drugs have been revamped over several decades by the Food and DrugRead MoreDrugs and Ethics Essay example1150 Words   |  5 PagesEthics and law do not always go hand in hand. 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