The Ethics Of A Pharmaceutical Company

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.

The pharmaceutical industry is powerful and large. Their influence is heavily felt by a populace that is under constant attack from threats to their health. The purpose of this essay is to investigate the controversial issue revolving around the role of pharmaceutical sales representatives and their relationship to the overall well-being of the customers they seek to persuade. I will examine this issue by discussing reported facts about these representatives behavior and how they fit in the larger picture of health and medicine in general.

"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

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?

(TCO H) Ethics is defined by Pozgar as "a branch of philosophy that deals with values relating to human contact with respect to the rightness and wrongness of actions and the goodness and badness of motives and ends." Describe two ethical dilemmas you may encounter in a healthcare setting related to patient care. In the description, define at least one law or regulation that may apply to each ethical dilemma. (Points : 35)

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?

This selection of ways of expressing ethical commitments does not seek to invalidate other approaches. The presentation of different ways of conceiving ethics alongside each other in this statement is intended to draw attention to the limitations of relying too heavily on any single ethical approach. Ethical principles are well suited to examining the justification for particular decisions and actions. However, reliance on principles alone may detract from the

As someone who is interested in pursuing a career in the medical field, it becomes apparent that medicine and ethics have a unique and pertinent relationship. Everyday doctors, nurses, and other health care workers have to make ethical decisions or help families make ethical decisions for their patients. For example, in the video that featured bioethicist Toby Schonfeld, she discussed some of the ethical dilemmas faced in hospitals today. The most notable ethical conflicts she noted were physician assisted suicide, and other dilemmas such as transferring a patient to palliative care, or whether someone should get a pacemaker or not. Perhaps, in my future I will face similar ethical problems and will have to figure out a way to draw a conclusion that is the best for both the patient and their family.

They did not see morality as part of the medical equation.” What Maslin means is that doctors, rather medical students, care about science and finding cures more than the person they are treating. Not only are people’s lives at stake, but their sense of freedom of living their lives the way they want to. Doctors are just now beginning to realize that their patients are human. Meaning that if someone dies, their family will resent the doctor because they feel like all doctors care about is the next treatment and what the next course of action is.

In health care, a foundation in ethics is very important because people such as, patients, families, and healthcare professionals face difficult decisions, in particular medical treatments, which involve moral principles, religious beliefs, and professional standards (Purtilo & Doherty, 2015). Doctors aren’t the only ones in the healthcare field upholding ethical standards like the Hippocratic oath; health care administrators also “play an important role in facilitating decisions about patient care, particularly when the situation is one that might contain moral and ethical dilemmas” (Saint Joseph’s University, 2016, para. 10). Recent issues have made having a foundation in ethics is very important such as genetic testing prior to birth or end-of-life care. Practicing and making ethical decisions is a double edge sword; not everyone is going to agree with the decisions made. I believe that someone can still be a good person when making ethical decisions, but they shouldn’t let it play a big factor when deciding what’s best for the patient. At the end of the day when making tough medical decisions, we have to ask ourselves what’s best for the patient because that’s really who the decision is affecting.

A company has the responsibility to represent the best instrest to all stakeholders. If a company purpose is to gain weth than it should not give a deceiving picture about caring for the wellbeing of the world. PharmaCARE is a deceiving company because they display on thing but do another. The company favors its executives more than the employees in Colberia. This shows that the company has a a double standard. The lobbying shows that the company is only to appease its American shareholders. Lastly, providing employment to individuals for only a dollar a day is not ethical. This company cannot be regarded has ethic because it disregards basic human

Martian Sherkeli the CEO of turning pharmaceuticals, has raised the price of a sixty-two year old drug (Daraphrim) which is used to treat patients with AIDS, cancer, and malaria by 5445 percent turning the cost from $13 per pill to $750 per pill. Mr. Sherkeli is not a doctor, he has no medical background, but he is saying that Daraphrim is an “old drug” and “no one will ever need to use it”. Which it is true Daraphrim is an old drug but people still need it for their treatment of cancer and aids. Seems to me that he only cares about himself and money while not caring about people. Now he said that he will lower the price of this drug in two weeks, but it has been about four weeks and

Pharmaceutical companies market their product in a variety of ways. It can be anything from simple pamphlets to actually taking doctors out to dinners to persuade them. An enormous amount of money is spent on this marketing could go to other things, but it is instead used to influence people. It becomes less about the treating a condition and more about making a profit. It even gets to the point where pharmaceutical companies target the uneducated public and try to manipulate them. Pharmaceutical companies have turned prescriptions into more of a way to make a larger profit rather than a means to help people.

The pharmacy business and healthcare in general is an immensely complex subject with profound ethical, economic and political intricacies and considerations. As discuss previously in this paper a lot of the issues with Shkreli arise from his own personality and a lack of moral turpi-tude. For the purpose of generating a reasonable solution we will put Shkreli’s personality aside and examine the specific strategy and conditions in the healthcare space that allowed Shkreli to single handedly raise the price of Daraprim by over 5000%. This section will examine the practice of trolling, a strategy used by Martin Shkreli and Turing pharmaceuticals to profit off the drug Daraprim despite adding nothing to the development or improvement of the drug.

The United States is notorious for many things such as being one of the most powerful and wealthy nations on the planet. However, something that most people don’t know is that the United States has 1.1 million citizens ill with the HIV virus. Something even more astounding is that of those 1.1 million only about 200,000 are receiving medication and have the virus under control due to the high cost of the medication. Many pharmaceutical companies have begun to find gaps within the government patent system. As rivalry has started to grow, many of these pharmaceutical companies are beginning to use product patents to create a monopoly. The ending result is to change the patent law and increase restrictions in order to provide fairness and reasonable prices.