basis. One way PharmaCARE could compensate the people and nation of Colberia would be to provide incentives for the Colberian workers’ and establish programs that are aligned with the interests of both the stakeholders and employees. Secondly, there should be a sustainability program in place that helps to restore the resources being used and distributed. Lastly, the Colberians live so poorly that perhaps another form of compensation would be to provide a living headquarters with running water and electricity. As well as medical benefits to aid in the wear and tear of their health from walking five miles at a time while carrying baskets that at times weigh up to 50 pounds. A company with a similar scenario to PharmaCARE’s creativity in …show more content…
According to Rolett (2013), “A lawsuit filed July 8 in Richmond City Circuit Court alleges that Star Scientific’s board of directors engaged in a “campaign of deception” eventually unraveled, tarnishing the company’s reputation and pushing down the price of its stock.” The outcome of most shareholder lawsuits appears to be resolved in settlement. In the case of CompCARE, once it was publicly linked to over 200 cardiac deaths and sold to WellCo the stock plummeted. Based on those facts alone the shareholders would not find success in this type of suit. As one of the most successful pharmaceutical companies in the world, PharmaCARE had a reputation as being caring, ethical and well-run. To the public, PharmaCARE saved and enhanced the lives of millions. In actuality the executives had no remorse for the indigenous Colberian’s they overworked, nor the numerous consumers and employees who suffered harm and lost their lives. PharmaCARE failed when it disregarded the health of its consumers in order to make a profit. PharmaCARE received reports that patients who took AD23 to suffer hearts attacks. Since demands soared among Medicare, Medicaid, and Veterans Affairs
Six basic types of ingredients used to formulate OTC brands. Each ingredient targets one of five basic symptoms.
First, the medical assistant should convert the doctor’s prescription into layman’s terms for Doris. Medication A is two teaspoons by mouth every four hours. Medication B is 2.5 milliliters by mouth three times daily (Fulcher, Fulcher, & Soto, 2012, p. 1b). Doris should be cautious of confusing her medication dosages as that could lead to possible overdose. If Doris is afraid of mixing her medications, the medical assistant should convert to the unit that Doris is more comfortable with. For example, if Doris prefers milliliters, she should take around 9.8 milliliters of medication A. Alternatively, medication B could be taken at .5 teaspoons (Fulcher, Fulcher, & Soto, 2012, p. 131). Patients taking multiple medications should have a medication
Corporations and business organizations have to face lawsuits due to breach of different laws i.e., consumers laws, copyright laws, compensation laws, security laws, antitrust, employment or environmental laws. For violating any of these laws companies have to pay fines and even go bankrupt. Current paper is a report on one such lawsuit that caused GlaxoSmithKline loss of billions of dollars. The author selected "Avandia Lawsuit" to focus in this report. Avandia is a drug used to treat type 2 diabetes and was prepared by GlaxoSmithKline which was approved by U.S Government in 1998 and became best selling drug. Company generated profit through its sale but soon complains arose due to increasing incidences of heart disease and stroke as side effect of the drug.
Angiomax is considered as a potential substitute for heparin. It has 3 major advantages when compared with Heparin. First, the effects of Angiomax are more accurate and more predictable. Second, it works better among patients at risk for bleeding, where heparin often proves problematic. Third, the product works faster than heparin and patients do not need to wait for 2 – 3 hours to identify the results. The major disadvantage of Angiomax is its high production cost against Heparin. As Heparin has a very long history dated back in 1916, the price is only $2 per unit while the production cost of Angiomax takes nearly $40 per unit.
Pharmed First Inc. is a widely successful chain pharmaceutical company with 85 drugstores located in Canada’s Atlantic provinces. George Brenner is one of the 6 regional managers and Angela MacFee is a store manager in a mall located in Dartmouth. One of MacFee’s loyal customers have purchased 9 packages of Diet Magic on September 2011 however wanted to return them on May 2012. Subsequently, MacFee reacted hastily and defensively, arguing with Johnston in spite of Pharmed First Inc. return policy (Figure 1). As a result, Johnston wrote a letter to Frank Chen, the president of Pharmed First Inc. and told Brenner to deal with it. He proposed that the company gives Johnston a $500 voucher and that MacFee apologizes. However, MacFee remained inflexible as she also challenged Brenner’s authority.
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.
When developing drug court programs, drug courts should combine alcohol and other drug treatment services with the criminal justice system. The two complement each other and ensures success when participants are willing.
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.
Everyone in America, is at risk for being diagnosed with a condition that they don't have, and being prescribed medications they do not need. Its, everyday advertisments on TV for clients who may have had a missed diagnosis, and experienced a side effect from a medication they where prescribed, physicians try to follow national standards of care to protect themselves from lawsuit or even losing their licenses.
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.
The dependency of profits to promote sales to please shareholders and research and development of new products seem to be the mindset of the pharmaceutical industry. It is without question that the pharmaceutical companies only care about making a profit more than they do to help the people of the United States. Pharmaceutical companies and doctors that represent them are only acting in their own best interest; patients are the ones who are suffering the most. With that, new information being produced it is not always being fully disclosed in the fine print, or the other option to the drugs they take, this just only helps fuel business’s.
As CompCARE and its parent company enjoyed record profits and PharmaCARE’s stock price approached $300 per share, reports started filtering in that people who received AD23 seemed to be suffering heart attacks at an alarming rate. The company ignored this data and continued filling large orders and paid huge bonuses to all the executives and managers, including Allen, who, after being named “Employee of the Year,” was beginning to miss production schedules due not only to his staff’s increasing use of sick leave, but also his own health issues PharmaCARE sold CompCARE to WellCo, a large drugstore chain, just weeks before AD23 was publicly linked to over 200 cardiac deaths. Both PharmaCARE and WellCo saw their stock price plummet.
Poor regulation, Conflict of interest and unfair decisions on account of Big Pharmaceuticals in Canada
As the brand manager for Allround cold medicine, there were many decisions regarding product formulation, strategy, line extensions and product launches over the company’s last 10 periods. The brand was focused on remaining a profitable, mature product family within the cold medicine category, but also maintaining a premium brand image.
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.