Ethical Issues in the Pharmaceutical Industry

The pharmaceutical industry is one of the most powerful and greedy industries in our country, with a goal to make as large a profit as possible, at the expense of the sick.

"In the past two decades or so, health care has been commercialized as never before, and professionalism in medicine seems to be giving way to entrepreneurialism," commented Arnold S. Relman, professor of medicine and social medicine at Harvard Medical School (Wekesser 66). This statement may have a great deal of bearing on reality. The tangled knot of insurers, physicians, drug companies, and hospitals that we call our health system are not as unselfish and focused on the patients' needs as people would like to think. Pharmaceutical companies are particularly ruthless, many of them spending millions of dollars per year to convince doctors to prescribe their drugs and to convince consumers that their specific brand of drug is needed in

There is little question that the development of independent nurse prescribers will serve the greater public good, but the primary obligation of the individual nurse must continue to be the health and wellbeing of his or her patients. Crigger (2005) identifies that nowhere in medicine today is the potential for conflict of interest greater than in the interaction between health professionals and private industry. These industries include pharmaceutical companies, medical device manufacturers, and makers of other products such as baby formulas. In short, any private interest whose income depends on the prescription or approval of their product.

Specify the types of country risks that pharmaceutical firms face in international business. How do the political and legal systems of countries affect the global pharmaceutical industry?

Bell continued to interview a journalist named Greg Critser, who authored the book “Generation RX,” which is about the relationship between America and pharmaceuticals. He exclaims that drug companies advertise their product so much that it internalizes inside individuals that the drugs they’re selling are good and not poison, then he continued where the drug is somewhat of a poison where it kills another thing off to benefit another. Pharmaceutical companies also lobby the political side of their ambitions to cover up the negative side of their

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

We (Individuals) do not want an individual in jury duty under the use of illegal dugs. But, what if the individual is actually under prescription drugs?

1. Do pharmaceutical companies have a responsibility to distribute drugs for free or at low cost in developing countries? What are the main arguments for and against such an approach? What are the advantages and disadvantages of giving drugs for free versus offering them at low no-profit prices?

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.

Drug companies that test experimental drugs in foreign countries are acting unethically. They are acting unethically, such that they are not disclosing results from the tests. As per the national Pharmaceutical Control Bureau’s Web site, there are specific guidelines with which the experimenters would have to adhere to when dealing with drug reactions (Health-Asia, 2007, February 2). Following a practice like this is imperative because patient safety is number one. Additionally, recording results and sharing them is common decency for families that are affiliated with the person being tested. If something bad happened, such as death, families, if present and involved, should be notified. Another reason as to why I feel recording results is important is the fact that it allows for the experimenters/doctors to have visual data of what drugs work and what drugs do not work. This would enable them to potentially improve on any faults that are present in the drugs and prevent future casualties.

Even though the pharmaceutical industry has made great improvements to human health and quality of life, like creating drugs for the treatment of AIDS, cancer, and other diseases, an increasing tension is growing between the public and the industry. These thoughts are fueled by issues such as drug pricing, affordable health care, and the battle against epidemic diseases in third world countries; social critics wonder whether this multi-billion dollar industry is giving enough back to the community and fulfilling its social responsibility.

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

Thousands of people voluntarily enroll in clinical drug trials every year. They are putting their health and safety at risk by participating in a drug trial. One would think they would be doing this to promote medical advancement, but in all actuality, it is for the high dollar amounts they receive for compensation. People that frequently enroll in drug trials are often called “guinea pigs.” The monetary amount people are paid can go as high seventy-five hundred dollars. The more invasive the procedure is the higher the compensation. These “Guinea pigs” are required to pay taxes on the money they do make. (Elliott, 2008)

The corporate social responsibility states that "corporations can and should act ethically and be accountable to society for their actions." Pharmaceutical companies work to save lives and make a profit. Individuals should make sure that

Merck and Co., Inc. was, in 1978, one of the biggest makers of physician endorsed sedates on the planet. Headquartered in Rahway, New Jersey, Merck followed its starting points to Germany in 1668 when Friedrich Jacob Merck obtained a pharmacist in the city of Darmstadt. More than three hundred years after the fact, Merck, having turned into an American firm, utilized more than 28,000 individuals and had operations everywhere throughout the world.