Business Ethis case:Pharmaceutical company admits to lying about the health risks of its drugs
Before i talk about the Pharmaceutical company’ case about Business Ethic, i want to clearify the difinition of buisness ethic.
Business ethics (also known as Corporate ethics) is a form of applied ethic or professional ethic that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and business organizations as a whole. (http://en.wikipedia.org/wiki/Business_ethics)
This case is basicly about a Pharmaceutical company in U.S adertised its product using unreal information. The company failed to include important information about hypoglycemia and diabetes, and promoted its drug as being safer than other anti-psychotic drugs.
In this case, the ethic issuze is that: in order to maximize its profit, this company hide a most imprtant information about its side-effect which may have a bad effect on the medecine taker.
Its comprehensible that all the firm in the economic market want to maximize its profit, but in terms of products like drug, which is crutial to human’s health. The pharmaceutical company’s action can not be ethicly accepted.
As a student who may get in to the buisness world, i think when we judge and weigh our profit with social morals, we should put the moral at first. It is a common sense that reputation is crutial for a company and the reputation of a company is based on the aspect of moral. The reputation can be easily ruined when the company do some immoral trade.
Here is the link of the article http://www.naturalnews.com/001502_prescription_drugs_pharma_industry.html