Case Study Of Cheap Pharma Inc.

The branded pharmaceutical firms account for more than 50% of worldwide pharmaceutical sales. Thus they make huge profits. These profits can be used to fund hospitals in poor areas. This will not only give the firms respect but also a good recognition. Generic medicines are cheap and easily available. Though they may not be effective, but they serve the purpose for the poor. Some generic medicines may not give the desired results but the major diseases which occur among the poor people can be treated with generic medicines.

Common stockholders are the basic owners of a corporation, but few stockholders of large corporations take an active role in management. Instead, they elect the corporation’s board of directors to represent their interests. Board members seldom get involved in the day-to-day management of the company. They establish the basic mission and goals of the corporation and appoint

The company is so large that no one drug can lift it from its current sales doldrums. In addition, the company was once highly attractive to investors, but its recent stock price fell to 1997 lows. This may put pressure on the company to attempt acquisitions at a time when the company is ill-equipped to integrate a new company into its organization, and it is engaged in a cost-cutting program at a time when it may need to invest even more in research and development (McTigue Pierce, 2005).

With soaring medication prices, many drug manufactures have the aspiration to increase profits, which have the effect of rising drugs cost and concerning for Americans. Fortunately, both Democrats and Republican have illustrated interest in passing Prescription Drug Affordability Act of 2015. Captivatingly, the act will allow Medicare to consult manufacturers and set affordable prices. Many have also requested to allow of purchasing medication from Canada which currently has lower drug cost. Reports often appear in the popular press about American consumers who go to Canada or Mexico to buy their prescription drugs at a fraction of what they would pay in U.S. pharmacies, even though doing so is illegal (1). By contrast, the United States leads

The Medicines Company used the saying “one man’s trash is another man’s treasure,” to the next level. It essentially took what other pharmaceutical companies place on the shelves and never use again as their next product which becomes a money maker. The idea is a great idea if it is well executed. The company cannot take just any type of drug and try to execute it pouring in millions of dollars’ worth of research and development because if the product is not chosen carefully, the product will fail. A simple failure for a drug that was not carefully selected, can damage the company’s image and reputation.

In large corporations the success or failure of the company is the responsibility of the board of directors. According to Richard DeGeorge, “The members of the board are responsible to the shareholders for the selection of honest, effective managers, and especially for the selection for the CEO and of the president of the corporation.” (p. 202). The board members have a moral responsibility to ensure the corporation is run honestly, in respect to its major policies, and to ensure the interests of the shareholders are satisfied. The next responsibility within a corporation is the responsibility management has to its board of directors. DeGeorge writes, “It must inform the board of its actions, the decisions it makes or the decisions to be made, the financial condition of the firm, its successes and failures, and the like.” (p. 202). The management of the corporation is morally obligated to

Firstly, our current pharmacare system does not provide access to individuals who need prescription drugs and are unable to afford it (Morgan, Daw and Law 2014). Prescription drugs are inputs into the broader health care system. As such, if prescription drugs are taken on time, this allows the healthcare system to meet patient health needs (Morgan, Daw and Law 2014). Secondly, our current pharmacare system does not ensure that the financial costs associated with necessary medicine are equally distributed (Morgan, Daw and Law 2014). Unequal distribution of the costs of necessary medicine can further drive income inequality (Morgan, Daw and Law 2014). Also, employers are under no obligation to continue providing private insurance for their employees

Although each member has specific role, they all are strategically aligned. The CEO role is to manage the entire company. With this function, the CEO is much involved in succession planning for the company. The board of director’s role is assist with any decision making for the company. Mlot and Sorensen (2013) mentions that five board members provide practical advice to HR organizations regarding succession planning. Human resource role is recruiting and developing talent. With this function, human resource plays a critical role in selecting and developing talent for succession

The pharmaceutical industry continues to be a major driver of trend. While demand for medicine rapidly increases in emerging economies, a growing number of consumers are also analyzing the economic performance of different medicines. These events will heighten the challenges the

In this situation, there was an incident where the three board of directors have had a personal interest in company and they themselves agreed to buy shares of stock of Green Med because they believed that Cheap Pharma cannot afford to buy the share of stock

I will be evaluation my current job at the pharmacy. It is a functioning retain pharmacy that’s main purpose is to distribute drugs and assist in the wellbeing of our community.

On September 2nd 2011, a Twenty-four year old man from Cincinnati named Kyle Willis´ fell victim to the corruption of the pharmaceutical industry(Gann, Carrie). Willis had a severe toothache on his wisdom tooth that resulted in its extraction. After the surgery, Willis´s face started to swell and was sent to the emergency room. He was prescribed antibiotic medications and also painkillers in order to follow standard recovery procedure. Kyle Willis’ could not afford both drugs so he just purchased the pain killers because of the swelling unbearable pain. The infection continued to spread into his brain which lead to severe brain swelling and eventually Kyle Willis’ death. Kyle Willis’ died because he could not afford the medication that

Cheap Drugs Are Us Inc. (CDU Inc.), under the leadership of Steve Brenda, raised the price of their B-52 pill from $10 to $800, an increase of 8000%. This price increase is unethical because it contradicts the moral principles of individuals and society, the most prominent of which being the dilemma that arises when one cannot decide between thinking of others and thinking solely of one’s own self. If everyone in a society thought only about themselves, there would be no concepts of justice or concern for those who cannot help themselves.

When an established multinational pharmaceutical company shows signs of early trouble, the sales and net revenue are falling, stock value is heading southwards and there is

A pharmaceutical company wants to earn big profit for their business. Meanwhile, this company doesn’t able to achieve its goal because of some issues. This aims to solve its problem but unintentionally the issue was covered by another issue during the time of resolution.