Ethical issues in the pharmaceutical industry : Assignment

Added on - 11 Jan 2021

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ETHICAL ISSUE INPHARMACEUTICSINDUSTRY
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Pharmaceutical Industry And Ethical Issues Faced By Them................................................12. Current Pharmaceutical Industry Regulations And Their Adequacy In Relation To TheAbove Discussed Ethical Issue...................................................................................................23. Ethical dilemmas and need for change....................................................................................34. Challenges of globalization in pharmaceutical industry........................................................35. Adequacy Of Pharmaceutical Industry Self-Regulations......................................................46. Limitation To Ethical Issues Within Pharmaceutical Industry And Recommendation ForFurther.........................................................................................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONEthical issues can be described as a situation in which an organization need to choosebetween what's correct and what's wrong. Ethics in Pharmaceutical industry is important as itconcerns with people lives. This study will focus on brief description of pharmaceutical industryand ethical issues faced by them, current regulations in pharmaceutical industry, different ethicaldilemmas and what are the changes needed to overcome those dilemmas, different challenges ofglobalization in pharmaceutical industry are explained, then adequacy of pharmaceutical industryself-regulation and at last limitation to ethical issues in pharmaceutical industry andrecommendation in future have been explained.MAIN BODY1. Pharmaceutical Industry And Ethical Issues Faced By Them.Pharmaceutical industry produces, develops, discovers, Pharmaceutical drugs or marketdrugs that are used for medicines which are given to patients either to cure then or vaccinatethem. Many Pharmaceutical companies deal with any brand or generic medications or medicaldevices. They need to follow variety of regulation and laws regarding safety, patenting,efficiency, testing or marketing of drugs(Pearson and et.al., 2013). Pharmaceutical industry inUK employees more than 70,000 employees while Pharmaceutical industry in whole Europeanunion employees more than 700,00.Ethics are the most important thing in business especially in Pharmaceutical industry as itis concerned with medications. One of the major ethical issues faced byPharmaceutical industryis usage of animals for research and development. Almost one third of research is based onanimal research in UK. Animal based research is increasing continuously for development ofmedicines used by humans or it can also be said that to bring advancement in medical treatmentslike diabetes etc. In fact Pharmaceutical industry is using animals for biological studies as well.Today animal usage in research and development has become a necessity for Pharmaceuticalindustry for development, discovery and production of new medicines and treatment. However,most of the companies are focusing on this ethical issue and reducing the use of animals inresearch but has not completely eliminated it. Not only this nowadays if any new medicines aredeveloped they are first experimented on animals before testing on peoples(Sweet and Maxwell.,2013). To reduce this animal usage an act has been passed in UK which states that until andunless there is no other alternative and it is unavoidable and necessary, animal can be used only1
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