How Business Ethics And Morals Can Conflict With The Pursuit Of Profits

974 Words Oct 9th, 2015 4 Pages
The current event I will be using is an excellent representation of how business ethics and morals can conflict with the pursuit of profits. Martin Shkreli, CEO of Turing Pharmaceuticals, recently raised the price of a drug relied upon by AIDS patients. This was not a small raise in price; Shkreli raised the price astronomically, from $13.50 to $700 a pill. The instant question I had when reading of this, was what makes Shkreli thinks that this is okay? For as quick as the mainstream media was to crucify him, this was not a clear-cut case of greed as it may appear. Shkreli claims that the extra money received from the rise in price will mostly be used for research and development in order to make improvements to the drug. Additionally, the self-proclaimed capitalist says that the raise in price is more in line with that of other pharmaceutical companies, comparing it to selling, before, as an Aston Martin for the price of a bicycle. It is Shkreli’s moral belief that R&D takes priority over providing the drug to those who desperately need it. Restricting the drug could result in lives lost and certainly has not made him very popular. However, he is adamant that doing this will result in greater good for society, and the free market legally allows him to do so. Shkreli justified his decision by tweeting out “No doubt, I am a capitalist who plays to win”.

(2) Apply Concept

(A)

I believe that Mr. Shkreli is acting off of his moral belief that the free market, which is the…

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