Study of the ethics of pharmaceutical companies when conducting business and promoting their products.
This paper addresses several questions concerning the ethical conduct of pharmaceutical companies. The paper considers whether doctors that sit on the boards of companies can be impartial when they make decisions to financially back research/drugs of the pharmaceutical company they represent, as well as what should be the corporate responsibility of the pharmaceutical companies. Also considered is whether pharmaceutical companies have systems in place to keep them ethically responsible and if advertising by pharmaceutical companies actually creates a demand for prescriptions when no need actually exists. Numerous graphs and tables are included.
“Indeed, one of the unique aspects of advertising prescription pharmaceuticals is the caveat “Ask your doctor”. The consumer cannot go out and directly purchase the product (note that via the internet this is now possible), but traditionally must receive a physician’s endorsement by way of a prescription. The pharmaceutical industry uses this reasoning to defend its promotional tactics, claiming that because doctors ultimately authorize prescriptions the public is insulated from deceptive advertising. Yet research indicates that doctors are likely to prescribe drugs patients request under increasing pressure. Patients often insist on brand names over generic drugs, some of which are just as effective and less costly.”