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Title
Social Responsibilities of the Global Pharmaceutical Companies: Towards an Ethical Health Care Paradigm
Fields of Research (FoR) 2008:
Author(s)
Kanwar, Abhay Vir Singh
Publication Date
2019
Socio-Economic Objective (SEO) 2008
Abstract
Although the pharmaceutical industry is a multi-billion-dollar business, it fails to save the lives of millions. Astronomical drug prices are not just an economic problem that can be settled through clever marketing strategies but a significant ethical issue. This article delves into the ethical health care paradigm, which can supplant the present economistic paradigm. Grounded in the ethical-philosophical argument for recognising an individual's right to be healthy, it asserts the practical proposal of cost rationalisation and universal availability of essential and lifesaving drugs. This is achievable by supporting research and development funding for drug innovation by the business establishment, and as such falls within the scope of corporate social responsibility.
Publication Type
Journal Article
Source of Publication
Journal of Law and Medicine, 26(4), p. 750-763
Publisher
Lawbook Co
Place of Publication
Australia
ISSN
1320-159X
Fields of Research (FoR) 2020
Socio-Economic Objective (SEO) 2020
Peer Reviewed
Yes
HERDC Category Description
Peer Reviewed
Yes
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