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CSR Issues In Pharmaceutical Industry

Some Good Examples:

Pfizer:

GSK:

  • Research-based pharmaceutical company;
  • Initiatives are primarily focused towards women, children and the aged;
  • Their initiatives are directed in the areas of Health, Education and Livelihood;
  • The organization facilitates in educating masses on good practices of healthy living.

Ethical issues concerning the relationships between medical practitioners and the pharmaceutical industry:

  • Interest might overlap and sometimes lead to conflict;
  • Associations between industry and doctors influence the behaviour in relation to both clinical decision making and the conduct of research;
  • Doctors must exercise care in their dealings with industry;
  • Openness and transparency;
  • Clearly articulated procedures.

Industry Overview...

5 CSR Dimensions

Stakeholder:

  • Pharmaceutical companies may deal in generic or brand medications and medical devices.

  • The global pharmaceuticals market is worth US$300 billion a year....

  • 10 largest drugs companies control over one-third of this market.

  • Companies currently spend one-third of all sales revenue on marketing their products.

Best Pharmaceutical Industries:

Economic Challenges:

  • The economic downturn that we're currently in has brought a number of challenges for the pharmaceutical industry;
  • The generics sector of the pharmaceutical industry is set to grow at a faster rate than the overall market.

Environmental-

  • Pharmaceuticals and Personal Care Products as Pollutants (PPCPs) refers to any product used by individuals for personal health or used by agribusiness to enhance growth or health of livestock.
  • Certain drugs may cause ecological harm

Social -

  • It includes cultural change, health problem, population growth rate etc. Social factors affect the demand of a company's products and how it operates.
  • company cost of health increase;
  • decline the company business competitive power
  • insurance funding system' can offer the latest innovation

Voluntary:

  • Guided by the CMA Policy;
  • No sanctions for non-compliance;
  • For Ex: US, laws are stringent & broken antitrust legislation.
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