Ethical Issues Relating To Marketing And Advertising, Intellectual Property, And Regulation Of Product Safety

3082 words - 13 pages

1. Ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety
Ethical issues differ depending on the social code and daily morality. The fact that discussions on stem cell research, abortion, and consumer loyalty still invoke serious arguments proves that ethical issues are still of considerable concern and should be addressed. Most ethical issues including those in the business sector revolve around moral or principles of morality, right, and wrongful actions, expressions of moral approvals in reference to principles of conduct generally viewed as correct by individuals in a particular profession or group. In the business world, ethical ...view middle of the document...

The arguments on the benefits and weaknesses of the marketing strategy have attracted almost equal claims. Direct to consumer marketing strategy allow pharmaceutical companies to directly market their products to the customers. By directly promoting their prescription to patients, pharmaceutical companies are in a better position to influence the decisions of the patients. This situation may act to the benefit of patients and the company or may be harmful. Arguments for the marketing approach to be used by pharmaceutical, state that the method allows better discussions with patients hence, ensuring they are more informed on the ways of administering the drugs as well as assisting the company to prescribe the correct drug. Further, DTCA provides education to patients, thus assisting them to have better control over their medical care, further improving their wellbeing. In addition, according to a research by Davison (2002), patients are more motivated to take prescribed drugs. Therefore, DTCA is a better system to encourage the patient to be more compliant with drug regimens.
However, there are multiple negative effects of allowing pharmaceutical companies to directly prescribe their drugs to customers. The most notable of these negative impacts is over utilization or unnecessary intake of the drugs. The second negative effect is the reduced time required to evaluate a patient. Most pharmaceutical companies do not carry out proper research regarding the side effects of their drugs before administering them. Therefore, DTCA encourages companies to neglect this crucial stage of drug prescription. Further, the marketing system encourages impediment of doctors’ effectiveness. In most cases, patients may find the need to withhold information from their doctor as well as attempt to self-treat themselves. As a result, patients may either take the wrong medication or suffer serious side effects due to lack of quality medical care.
3. Who regulates compounding pharmacies under the current regulatory scheme, what the Food and Drug Administration (FDA) could / should have done in this scenario, and whether the FDA should be granted more power over compounding pharmacies.
It is easy to differentiate between local and large pharmaceuticals due to the volumes of production and customer base. However, there is a third category of pharmaceuticals known as the compounding pharmacy. This category concentrates on the distribution of unusual or specified drugs. For instance, compounding pharmacy may require production of a drug whose milligrams are not commonly produced. The production assists in taking care of individual prescription issued by a licensed practitioner. In most cases, compounding pharmacy assists in production of drugs for patients with allergies such as coloring agents, or those required to take particular amounts of a certain substance per tablets. Compounding must also be analyzed and licensed to maintain the required drug production...

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