The twenty-first century has seen pharmaceutical companies grow in unprecedented size and strength. Due to the unprecedented growth the larger pharmaceutical companies have gained leverage and power in the prescription drug industry, but they lack innovation to market and they seek ways to help the business continue to increase its profits. The pharmaceutical industry was once ethically sound and was a valuable player in the development of human health. However, overtime with the lack of innovation pharmaceutical companies are becoming an unethical market that exploits patients, doctors and anyone else it can to increase its profitability. With eyes only on profitability this can create a hazard for patients because there
Direct-to-consumer advertising of prescription drugs has attracted several controversies, especially from people opposed to it. Some of the major arguments that have been raised include the possibility of the advertising to be a blatant manipulation of the public, the huge potential benefits to pharmaceutical companies and significant damages to the health care system. However, direct-to-consumer advertising of prescriptions drugs should be carried out properly because the advantages of this measure outweigh its disadvantages. One of the major reasons for the advertisement of
Most countries don't allow drug companies to advertise directly to patients. In the United States, however, direct-to-consumer (DTC) advertising of prescription drugs is completely legal. The article "Should prescription drugs be advertised directly to consumers?" questions the validity of this decision and provides several different examples of the advantages and disadvantages of DTC prescription drug ads. There are both positives and negatives associated with the advertising of prescription drugs.
Her main focus was on the television (T.V.) advertising of medicine that is done in this country. She finds it highly unethical that pharmaceutical companies advertise drugs that are needed by patients. She further explained that it is also the way which marketing is conducted, “showing cheery people with fabulous hair on sunny days” (F. McClure, personal communication, October 14, 2013). The general public is naive to the possible side effects of these drugs and/or do not grasp the severity of many of them. Most people are looking at the pleasing visuals in these commercials, therefore they do not notice the side effects of the drugs, because the notices are in small print or run through so quickly they are incomprehensible. The viewers want what they see and ask their physicians for these drugs by name. In turn, doctors order the drugs; the companies grow bigger and market more drugs. It is a perpetual cycle, McClure expounds, and one that she and many of her cohorts wish would stop.
The fact that the United States and New Zealand are the only two countries in the world that allow pharmaceutical companies to advertise directly to consumers is unreal to me. Through the Division of Drug Marketing, Advertising, and Communication (DDMAC), the FDA guarantee that all prescription drug promotion provides truthful, balanced, and accurate information (FDA, 2010); alongside with the risk the drug has to
In this brief response to the business ethics case study, I will highlight findings that question the integrity of Next Step Herbal Health Company according to Ramona Alexander’s research on the company and her observations of the CEO’s engagement and the recruiter’s response to her raised concerns. There were three major issues I found that were questionable in making a final decision of accepting any offers from Next Step. I will elaborate on the following points:
In addressing your ethical concerns I must let you know what my philosophy is pertaining to ethics as a fundamental concept in business. Knowingly, or not we all approach life with ethical and moral principles. These principles,
Allround is sold through both direct and indirect channels, the venue of direct to the retailer allows for more control over the product placement in the modes of independent drug stores, but for larger stores such as grocery stores, mass merchandisers, and chain drug stores the study found that they focus concerns on product turnover and given allowances for the product.
Pharmaceutical companies and proponents of DTC advertising of prescription drugs argue that they create a more informed consumer, alerting them of possible ailments and new drugs.
There are only two countries that allow advertising of prescription drugs to consumers; the United States and New Zealand. Direct to consumer advertising (DTCA) is what they call the prescription drugs advertisements that are made specifically for the consumer. Pharmaceutical companies ' survival depends upon a gullible public buying what they are selling, whether you need it or not. Prescription drug advertising is in a different category than toothpaste advertising. Because the consumer 's health is at stake, there are different rules and regulations involved. Pharmaceutical companies often do
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.
The problem to be investigated is the application of business ethics. In the business world, ethics are extremely important. Ethics are prime elements that help a business to grow and to become more productive. It is by applying proper business ethics that a business can operate in a moral or ethical business environment and managed to conduct all activities in a manner that maximizes profits while not compromising all other non-economic concerns(Schwab, 1996). Businesses have over the years failed to nurture business ethics in order to fulfill shareholders' interests and to have a culture that is oriented towards profit maximization and high performance(Jennings, 2012; Sims & Felton, 2006). This has led business to have gray areas in their activities. Gray areas are those situations or problems that do not fit exactly into any ethical analysis. These are the activities which may be represented to be immoral as a result of lying and false representations on the part of the business.
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.
What facts would you want to know before making a judgement on the ethical appropriateness of direct consumer advertising of drugs?