Sustainability in Pharmaceuticals Industry
Ethical Pricing in the Pharmaceutical Industry
The reality of medicine if the modern era is that resources must be allocated to help support the development of new pharmaceutical and in turn, there must also be a way to compensate those who devote their resources to help cure some of the preventable diseases that plague the modern age. The moral issue at stake here is distributive justice, and Rawls' framework is especially germane since it underlines the material benefits everyone deserves as Kantian persons and the need for an egalitarian approach for the distribution of society's essential commodities such as health care; the concern for distributive justice should be a critical factor in the equation of variables used to set prices for pharmaceuticals (Spinello, 1992).
For example, the question of how humanity delivers on a social scale that advances that humanity makes is among one of the essential questions in framing what a sustainable future might look like. There are also pragmatic considerations that must be made. For example, how should intellectual properties be weighed in instances where the protection of intellectual capital will almost certainly result in human lives. Such questions address the complexities that exist in the compensation structures for modern healthcare innovations and these questions are far from having clear answers. This analysis will try to identify some of the core considerations that are inherent in these concerns and frame the ethical considerations that intrinsic in these lines of reasoning.
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The stakeholder set is wide and diverse and consists of investors who are interested in their personal gains, as well as patients (stakeholders) who are interested in their physical, or mental, well-being. Balancing the different goals of different sets of stakeholders represents a tactical, but also moral, dilemma in many circumstances. For example, it is likely that the level of innovation would be somewhat stifled if there wasn't the potential of massive rewards, but at the same time, what are the obligations to society in general. There are obviously trade-offs at every point in the possible spectrum of risk, reward, and the public good.
John Rawls who proposes that all economic goods and services should be distributed roughly equally except for in the cases in which unequal distribution works to advantage the entire society as well. For example, some level of inequality could in fact play a motivating role in leading individuals towards hard work and innovation. Furthermore, Rawls argues from a Kantian position and diverges from other egalitarian theories by making provision for inequality when they enhance the position of the least advantaged members of society.…
There are two constant irritations in U.S. pharma companies' relationships internationally: Some developing nations, such as India, Brazil and South Africa, are chipping away at the patent situation, trying to shorten the time until the drugs can be brought out in generic form. The U.S. has supported high prices as the cost for innovation. Since other countries are not playing along, this means that their citizens are benefiting from the innovation paid
McKesson Corporation (Mckesson) is an American pharmaceutical distributor with operations mainly in the U.S. The firm has been in operation since 1833, and boasts extensive market share, robust financial strength, and strong market power. The firm has built strong relationships with its key stakeholders, which adds to its strengths. Nonetheless, limited diversification and market focus as well as the threats of competition, unfavourable regulatory changes, and counterfeits present significant concerns
Drug Development (From Nature to the Market) The process of drug development is a complex one. The pharmaceutical industry is required to adhere to strict governmental regulations, set out by the Food and Drug Administration (FDA), which involve numerous phases of testing and clinical trials, close monitoring of the drug's effects on users, its stability, dosage forms (the preparation), and so on. This paper will describe the drug development process,
Pharmaceutical Ethics Issues Generally, business ethics is a concept that has not been upheld or exemplified to any high standard by the modern pharmaceutical industry. It is an industry frequently plagued by unethical marketing decisions and practices, the pursuit of business strategies and policies that violate public trust in spirit if not necessarily in the written word, and that has embraced research practices that are sometimes highly questionable. In the modern
Sick: The Untold Story of America's Health Care Crisis -- and the People Who Pay the Price. Brief summary of the book, including strengths and weaknesses Jonathan Cohn's "The Untold Story of America's Health-Care Crisis and the People Who Pay the Price" provides a detailed account of challenges that exist within the current healthcare system. The book highlights true stories from five years of travel conducted by the author. During his travels,
Corporate Social Responsibility in Indian Pharmaceutical Industry An Exploratory Study Outlook of CSR in India History of CSR in India Philanthropy in Indian Society Modern Form of CSR in Indian Society Profile of Indian Pharmaceutical Industry Rationale for Selection CSR Activities by Indian Pharmaceutical Companies Major Influences Over CSR Activities Scope of CSR Activities Comparison of Indian & Western Pharmaceutical Companies This research paper is concerned with the recent practices of Indian pharmaceutical companies in the field of corporate social responsibility. For
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