Introduction
Beacon Company has been in the news of the New York Times recently. Kiran Shaw the Chairperson of Beacon got the name, “India’s mother of the invention” as it became the founder enterprise of producing and exporting goods to the United States and Europe.
Kiran Shaw, the founder of Beacon, firmly believes that India should make full use of its intellectual capital with a vision rising high in the value chain in a manner that is different from the western model, which did not take into account the affordability of medicines to the patients. Besides, India needs to leverage its affordable costs to deliver elevated modernization to international markets so as to build superiority across the advancement chain from innovation to produce quantifiable improvement.
Analysis
Beacon Company has floated three subsidiary companies in the process of building up an integrated business model with a view of enjoying the benefits of full integration in the biotechnology business (Pillot, 89). Beacon’s activities center on the Beacon foundation that got recognized with the aim of identifying and putting projects into operation that impact the communal and fiscal situation in the state.
Beacon is on an aggressive approach in Bangladesh because of the country’s increasing dependence on lifestyle disorder drugs like cardiovascular and anti-diabetics. Bangladesh which gets viewed as an attractive target for active pharmaceutical ingredients has managed to go ahead in the region. For Beacon, 50 percent of its earnings are from exports.
The Karnataka government referred to the issue of Beacon Company lapses in making vitamins used to treat neurological problems among diabetics. Beacon holds a manufacturing license for the product since May 2008 and was to follow a seven-step strategy. However, the company skipped some steps and changed the system by using an intermediate drug imported without a license from China.
The state drugs act launched in January 2009 violated section 3 of drugs and cosmetics rules by not intimating the changes in the standard operating procedure. The state Drugs control authority canceled the license in late January. On February 12, 2009, Beacon applied for a fresh license and received it in March. The spokeswoman said that the situation had got rectified, and the company continued to make the drugs based on the new March license. However, she argued that the vitamins in terms of sales and revenue were awful products to the company.
In its statement, Beacon emphasized that it had admitted inspecting officials to a procedural lapse in the manufacturing process. Also, imports from the intermediate product from China do not require a license. It had now stopped importing the intermediate. It stated that it had revised its production process and had commenced the production of the vitamin product (Wines, 29). Accepting the fact that the company had committed a procedural lapse as it had not updated the drug controllers’ office about the changing process, they filed the new process seeking a fresh license. The company argued that the situation got rectified once Karnataka’s drugs issued a fresh license in March 2009.
Conclusion
The above news indicates that the company is not keen on the procedures it takes and is willing to correct only if identified and informed. The company would have continued with its old procedure violating the guidelines of the drugs control Department of Karnataka, had it not been identified during the routine inspection.
Works Cited
Fernando, Carlos. Business Ethics: An Indian Perspective. Web.
Wines, Williams. Ethics, Law, and Business. 2009. Web.