Pharmaceutical Industry & Legality

Counterfeit Drugs: Some developing countries have weak regulations when It comes to counterfeit drugs from generic manufacturers. More than 30% of medicines sold In these countries are fake and results In the death of thousands of people. . Political: The political solution In efferent In every country and the growth of the pharmaceutical firms In these countries depends on political atmosphere. Some governments do not want the foreign companies to operate and they encourage the local companies. The local pharmaceutical companies may not serve the purpose completely. The global pharmaceutical industry is dominated by USA and Europe. Corruption in many third world countries like bribery, kickbacks are the major risks for the pharmaceutical firms. 5.

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Legal System: Similar to the political system, the legal system also function in the same lines. Sometimes, the politicians can take law in their hands and may not follow the legal system, resulting in bribes and corruption. Some legal system does not have a strong patent protection. This Is one of the biggest risk faced by the pharmaceutical firms. People need medications, but the poor often cannot afford them. Governments may not provide subsidies for health care and medications. Meanwhile, pharmaceutical firms focus their R&D on compounds likely to provide the best returns.

What is the proper role of the following groups in addressing these dilemmas: National overspent, Branded pharmaceutical firms, and Generic manufacturers? Healthcare Is the most Important factor for the growth and well being of any country. If the governments cannot provide subsidies for healthcare and Pharmaceutical firms Just focus of their R&D, the other groups can address these Issues. The National governments can play a major role. They have budget and relief funds allotted for the poor. It can also ask the insurance companies to reduce the premium based on the national governments, the poor can greatly benefit from this.

The branded pharmaceutical firms account for more than 50% of worldwide pharmaceutical sales. Thus they make huge profits. These profits can be used to fund hospitals in poor areas. This will not only give the firms respect but also a good recognition. Generic medicines are cheap and easily available. Though they may not be effective, but they serve the purpose for the poor. Some generic medicines may not give the desired results but the major diseases which occur among the poor people can be treated with generic medicines. Consult www. Harm. Rig, The Pharmaceutical Research and Manufacturers of America. What steps is the branded industry taking to address the various ethical issues it faces, such as providing affordable drugs to poor countries? The branded pharmaceutical industries have made significant contributions to human progress. The pharmaceutical industry has been responsible for drugs that have saved millions of lives, cured many forms of cancer. Yet despite this there are questions that the public has on whether the industry has been fulfilling their social accessibility of serving the poor countries.

One of the main ethical issue is that many branded pharmaceutical companies have the only objective of making money and not the health or well being of patient. This kind of ethical issue can be handled very nicely, if the pharmaceutical firms provide the drugs to the poor countries at low and affordable price. It doesn’t matter if they don’t make any profit in the poorer countries as they can recover it from the rich countries through patent protection. Thus the pharmaceutical industry can be a better corporate citizen.