There Was An Ethical Issue Which Arose In The United States

1043 WordsApr 13, 20175 Pages
There was an ethical issue which arose in the United States of America regarding Turing Pharmaceuticals messed up drug pricing (Timmerman 2015) that has gained a lot of attention in recent times. Ethics is the rules of conduct acknowledged in respect to a class of human actions or a group (Diffen 2016). Ethics is important as it affects not only the organization but the community and society at large (Spooner n.d.). This essay will discuss about how unethical Turing Pharmaceuticals acted in the case of price hiked in a 62-year-old AIDS drug. This is not the first time a drug price has hiked, but it is undeniably one of the largest hikes. Especially when the drug can make a difference between life and death, it is a serious ethical issue…show more content…
The stakeholders that were impacted by the ethical issue would certainly be the patients. Due to the expensive price of the drug, their cost of living and expenses would subsequently increase and the drug would become a luxury good. For those who were not able to afford it, their health conditions’ might deteriorate and death might have come their way. Next, the company and its’ shareholders. The reputation of the company might be greatly affected and even worse, destroyed. Thus, the share price of the company might drop drastically after receiving various negative feedbacks and criticisms from the public. The company and the shareholders might suffer a huge loss. Furthermore, the government played a part in this issue. The government was expected to outlaw and bring Turing Pharmaceuticals to justice to ease the anxiousness of the public. The government might also be expected to try to maintain and regulate the price of the drug to an extent and prevent issues like this from happening again in near future. The decision made by the involved parties might be ethical from Turing Pharmaceuticals and Martin Shkreli’s point of view. The positive impact by the decision was the company’s profit may have spiked in a
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