Monitoring Business Ethics in the US Pharmaceutical Industry
Increase in prices of prescription drugs is an issue that affects every citizen regardless of their age, health, and financial status. referable to a weak economy and increased outsourcing, many passel are out of jobs. Other workers are also losing their health insurance as companies cut employee benefits in an attempt to die hard competitive and reap higher profits for their investors. Pharmaceutical companies flesh out on every opportunity to tell the world active their contribution to combating deadly diseases by publishing elaborate brotherly Responsibility reports written to divert peoples attention from the negative publicity criticizing unethical clinical trials and business practices. As the pharmaceutical exertion continues to prosper, it chooses to ignore its ethical responsibility of curing people, by waiver to great lengths to impose higher prices on its products, as salubrious as lobbying for stricter regulations that prevent the importation of competitive brands into the U.S.
In order to powerful to evaluate this particular situation, it helps to identify parties that are affected the just about which include pharmaceutical companies, their shareholders, and U.S. citizens most of which have double roles as pharmaceutical drug consumers and shareholders of the pharmaceutical companies.
Utilitarian theory which identifies with the concept of maximise the overall good is the best model to use when analyzing policies of a elect society. However, there are two approaches to this theory: ruler Utilitarianism and Act Utilitarianism and conclusions will vary depending on the approach chosen to deconstruct this situation.
When evaluating actions of the pharmaceutical industry from the Rule Utilitarian drumhead of view, one must consider the fact that U.S. companies are primed(p) in a capitalistic society, where basic rights of property apology (including patent rights) take precedence over the right to life.12 U.S. policies in general, are based on...
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