Burroughs Wellcome and "Ethics and Big Pharma"

Topics: Pharmacology, Pharmaceutical drug, Investment, United States Declaration of Independence / Pages: 8 (1855 words) / Published: Nov 11th, 2010
Burroughs Wellcome and “Ethics and Big Pharma”

a) Consumer Activist perspective

b) Business perspective

1. Should Big Pharma focus on the creation of shareholder value, the classic objective of business entities, or should this focus be mitigated by the “needs” of patients primarily, but also citizens in general?

a) Consumer Activist perspective:

I believe governments have a strong social and moral responsibility to all its citizens to allow the opportunity of accessing health care, to include medicines. The private industry has a social responsibility with its employees and their communities; they create jobs, provide benefits to their employees (medical insurance, retirement plans, appropriate working conditions, salaries, etc), and help communities prosper thru their tax contributions. This is as far as private industry contribution goes, beyond this point I believe the well being of citizens in general is the responsibility of our governments and not the private companies. Pharmaceutical companies are in business for financial gains. It’s nice to think that there are companies who as a priority care for the well being of their customers and they’re communities, but this is not what these companies are in business for. On the other hand, we the people have entrusted our government to decide what is best for us. Our government is the people’s ‘company’ and we are its ‘employees.’ Just like in the private industry in where it’s in the company’s best interest the well being of their employees to work and make profits for them, it should be in the government’s best interest the people’s well being so we can continue to produce and contribute to the prosperity of our nation (pay taxes). Less employees, lesser contributions.

b) Business perspective:

Pharmaceutical companies are in business for financial gains. They have a financial responsibility with its shareholders, which is to make profits. They also have a quality responsibility with

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