Essay on Pharmaceutical Industry and Drug
Questions 1 through 7
1. On balance, do you think Merck is an ethical and socially responsible company? Why or why not? How about Pfizer?
In my opinion, Merck is not an ethical and socially responsible company with introducing Vioxx into pharmaceutical market. Before the Vioxx approval by FDA, scientists from University of Pennsylvania found that the drug could bring some serious results such as cardiovascular, and there were many serious cardiovascular problems during testing on patients. However, Merck ignored these negative effects, kept developing Vioxx was order to get ample profits. At the same time , through “Direct-to-consumer advertising”, Merck made customers believe Vioxx that was safer and more effective …show more content…
6. “The more than $10 billion Merck has hoarded attests to the obscene profits these drug companies are making at our expense,” a consumer advocate speaks up. Evaluate this statement.
Drug industry is very profitable because of the high risks and a certain amount of customers. A successful new product would make a lot of profits for drug companies. However, drugs have side effects, it might potentially cause negative health problem for human beings. Even though there are 95% of customers are having benefits from the drugs, those 5% of customers who are not happy with these drugs would complain. On the other hand, drugs are relatively expensive for customers. Health concerning is always the important demand in people. Therefore, customers would love to pay any price, if these drugs could take care of their health problems. This statement basically shows the pharmaceutical industry is strongly losing credits from their customers.
7. “The FDA is in the pocket of the drug industry. What a travesty this is.” Comment.
FDA is supposed to control the drug industry and support the drug safety for consumers. However, in the real world, there are many issues happened every day; and FDA can’t really