Valeant Pharmaceuticals: An Ethical Perspective Valeant Pharmaceuticals is a multi-national company which focuses on special pharmaceuticals and medical devices. The company employees over 22,000 people and spans more than 100 countries. The vision set out by Valeant Pharmaceuticals is “To be your trusted healthcare partner” (Valeant 2016). Their mission statement is “Improving people’s lives through our healthcare products” (ibid). Valeant has set out a series of five values which it bases its company on. These five values are “Quality Healthcare Outcomes, Customer Focused, Innovation, Efficiency, and People” (ibid). In 2015, Valeant Pharmaceuticals became the focus of a major scandal within the business and pharmaceutical world due to a
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These stakeholders include Valeant itself, investors in the large pharmaceutical company, shareholders of the Valeant Pharmaceuticals stock, people who take the drugs in which Valeant owns, and health insurance companies who are involved with people who need the drugs produced by Valeant. In the case of Valeant Pharmaceuticals itself, they were impacted with a great loss and value as well as a complete loss faith in the company from many in the business world which has led to a very volatile reputation. Also, this major scandal led to a shakeup of members of the Board of Valeant as well as a change in CEOs. In the case of Wall Street investors in the company, many held very large positions in Valeant and when its stock declined over 90%, the investors respective funds were absolutely savaged. This led to a loss of confidence in the funds of investors who had large positions in Valeant Pharmaceuticals as well as a loss of reputation for these once great Wall Street investors. In the case of shareholders of the company’s stock, they lost much of their money they had invested into this once great and profitable stock. In the case …show more content…
The first recommendation would be to install a new governing board as well as new chief officers. Next the company must lower its drug prices in a way that once again makes them affordable to the consumers which rely on the drugs. Then the company must change its strategy from pursuing vicious takeovers in order to “skip” the research and development phase that every other pharmaceutical company must endure to conducting its own research and development for new drugs that it can bring to the market. Finally, the company must start a campaign in order to win back the trust of the average shareholders, Wall Street investors, its customers, and the companies that facilitate the drugs to consumers and
These stakeholders include Valeant itself, investors in the large pharmaceutical company, shareholders of the Valeant Pharmaceuticals stock, people who take the drugs in which Valeant owns, and health insurance companies who are involved with people who need the drugs produced by Valeant. In the case of Valeant Pharmaceuticals itself, they were impacted with a great loss and value as well as a complete loss faith in the company from many in the business world which has led to a very volatile reputation. Also, this major scandal led to a shakeup of members of the Board of Valeant as well as a change in CEOs. In the case of Wall Street investors in the company, many held very large positions in Valeant and when its stock declined over 90%, the investors respective funds were absolutely savaged. This led to a loss of confidence in the funds of investors who had large positions in Valeant Pharmaceuticals as well as a loss of reputation for these once great Wall Street investors. In the case of shareholders of the company’s stock, they lost much of their money they had invested into this once great and profitable stock. In the case …show more content…
The first recommendation would be to install a new governing board as well as new chief officers. Next the company must lower its drug prices in a way that once again makes them affordable to the consumers which rely on the drugs. Then the company must change its strategy from pursuing vicious takeovers in order to “skip” the research and development phase that every other pharmaceutical company must endure to conducting its own research and development for new drugs that it can bring to the market. Finally, the company must start a campaign in order to win back the trust of the average shareholders, Wall Street investors, its customers, and the companies that facilitate the drugs to consumers and