Ethics of offshoring

Topics: Ethics, Clinical trial, Business ethics Pages: 3 (1147 words) Published: October 15, 2014
I do not believe that doing clinical trials in India would be the best interest of the stakeholders. (Economic and Ethical aspects) From a financial perspective developing countries such as India doesn’t benefit Novo Nordisk and they would have to save costs, they would have to pay attention to rules and use full resources which could cost money. They would have the demographic patient poll, they would be able to do trials cheaper and have a faster pick of the patients. In order to do this in a country without the wealth they would have to clip corners and use cheaper resources and well as cheaper products, which could harm the patients in the trials. The concern is that they have a social responsibility to making profits. This would affect the primary stakeholders which are the customers, suppliers and the shareholders concerning the ethical consequences of the policies and procedures involved in conducting trials in India. They would also have to be concerned with secondary stakeholders such as, the media or special interest groups. To be socially responsible they must weigh and balance the economic, legal and ethical consequences. So they must perform and economic analysis so they don’t engage in deceptive and dangerous practices so the individuals won’t get hurt. This is when we have to be careful clipping corners can be unethical. Perhaps the concern of using Placebos might affect their social responsibility. A legal analysis is required to see if an ethical problem exists. They would do this by complying by the laws of the country as well as their own. They must ask themselves several question such as is it in violation with the international agreements? Does it follow the company’s ethical code? Is it consistent with the company’s culture or with the cultural norms? Is it consistent with the personal moral beliefs? If they answer yes to all those questions then they can move forward. After the Economic and Legal analysis are done they...
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