Essay on Module 3

In recent years, it has become an increasingly popular practice for drug companies to perform their clinical testing of new drugs in foreign countries that might not have the consumer protections or product liability laws present in the United States. Please answer each of the following questions using a theory studied in Module 2 specifically and thoroughly and using examples and facts from the readings and resources.

Economic: Globalization of the pharmaceutical industry is an exciting opportunity to have research and development done at cheaper prices in other countries. However, this could be a double edged sword for companies because it is easy for other countries, such as India, to produce generic versions of the drug in bulk.

All drugs have dangers due to certain chemicals and substances. Because of animal testing, researchers have found another alternative to testing on humans.

Expanding into Asia (including India) so as to implement lower cost clinical testing and share opinions with leaders in the medical industry appeared to be a viable option. Drug prices however were substantially lower in India, profits were capped at 6% and post manufacturing costs were limited at 100%.

1. Pricing: Many Asian and African countries are poor and cannot afford the costly medicines. The Pharmaceutical firms spend vast amounts on R&D in creating and marketing drugs, thus charging high prices enables for cost of capital recovery and profit generation.

The Pharmaceutical industry has been in the spotlight for decades due to the fact that they have a reputation for being unethical in its marketing strategies. In The Washington Post Shannon Brownlee (2008) states, “We try never to forget that medicine is for the people. It is not for the profits. The profits follow.” This honorable statement is completely lost in today’s world of pharmaceutical marketing tactics. These tactics are often deceptive and biased. Big Pharma consistently forgets their moral purpose and focuses primarily on the almighty dollar. Big Pharma is working on restoring their reputation by reforming their ethical code of conduct.

These companies are clearly putting the health and well-being on people to save money, them bypassing the laws to save money and avoid regulations and protocols of the United States. The low standard of medical treatment these companies are providing in addition to the slave labor wages is preposterous to say the least. Many major pharmaceuticals companies make sure to inform the public of all the free medicines they donate to developing countries. One would think that is the least they can do considering these products were probably tested on them years ago, and let us not forget the tax

They are not obligated to provide these drugs to countries who cannot afford it. This is centered around the viewpoints of the Libertarian. Libertarians believe that they do not have to perform acts that are beneficial to others and their ideas/thoughts are more self-centered (Shaw & Berry, 2013, 115-118). Thus, supporting the idea that companies do not have to make drugs available in poor countries at little or no cost. These companies made their own profit selling and distributing drugs. Being that they made their own money and did not violate any laws, there is no sense of obligation to provide such drugs in poor

That man along with many other people who cannot afford the drug end up dying as a result of having access cut off. Let’s say that legally there are no laws restricting what happened, so it goes on for as long as the new company wants to keep the prices high. Therefore, ethical intervention and suggestions are only applicable in this situation.

Over the past couple of decades, a sudden change has started to take over the way business is done. The time when no rules applied, and anyone could do what they pleased at the cost of others or the environment is rapidly ending. Instead, companies today have become aware that it is essential for them to employ ethics and morality in their actions, if not they will be heavily scrutinized and rejected by the public. This way of thinking also applies to the pharmaceutical industry, which over the past century has been rapidly expanding. Do to the fact that this industry can determine the health and lives of millions of people, it is imperative that this industry follow an ethical and moral path.

This fact pattern has two ethical dimensions present in it; increasing the price of the drug and reducing the shelf life. This is an ethical dimension because, the price of the drug is increased solely for profitable reasons, there is not scientific

I believe this is very unethical and I equate that to stealing if I may be permitted to use that word. If this kind of discovery happened in a community then the community should be able to benefit from the proceeds of that medicine even though the patent may go to the pharmaceutical companies or they may even share the patent of that drugs. It may not be equal partnership because the company would have spend a lot of money for converting the herbs to a proper medication and spend money for adverts and all. The proceeds could be percentage based like 70% to 30 %.

Society expects drug companies to improve people’s well-being and to behave like a nonprofit company not overly concerned with making large profits. However, investors

the file. Opening the file causes the malware to activate and begin infecting the system.

The pharmaceutical industry has enjoyed very impressive sales and profit growth rate above 10 percent per annum despite its strict industry regulation. This success relied mainly on strong Research and Development (R&D), patents, aggressive promotional tool and Salesforce. In the era of big-bang disruption and economic downturn, however, this industry is constantly under attack from numerous interested parties trying to reduce the size of the drugs bill (Moss, 2004). This industry is now under immense pressure from external and internal stakeholders who are expecting development and distribution of pharmaceuticals and drug-related products and services in an ethical and cost efficient manner, yet maintaining healthy profit margins. As in other