The business of manufacturing medicine has a lot of challenges. There are a lot of considerations to be made before setting up a pharmaceutical company. Pharmaceutical businesses are delicate because their products determine the health of patients and other people that consume their drugs. A pharmaceutical company should ensure that its products meet the expected safety and quality standards in the country where it operates (Shaw 145). This business requires the producer to do a lot of tests to evaluate the quality of pharmaceutical products sold in the market.
A pharmaceutical business saves many people’s lives. The medical products sold to health facilities enable patients to get quality treatment. This guarantees healthy lifestyles for many in society. The business provides employment opportunities to many skilled and nonskilled workers. The business brings innovative solutions to the health services industry. The Discovery of new medicine helps many patients with health conditions that are difficult to treat to get treated (Shaw 150). The firm can share knowledge with students in educational institutions who get a chance to learn modern pharmaceutical processes.
A pharmaceutical firm needs to be careful about how it conducts tests. The products which are manufactured may be harmful to consumers if their suitability is not assessed. Some pharmaceutical companies also use people to test the effectiveness of their drugs. This opens up a moral dilemma because some tests can be harmful to the people being tested (Shaw 153). The cost of the drug is also an ethical issue that needs to be considered. If the drug is priced expensively, patients who need it may not access it. The tests done should be safe and any person used by the firm to test drugs needs to be informed of the risks involved.
Works Cited
Shaw, William H. Business Ethics: A Textbook with Cases. Mason: Cengage Learning, 2010. Print.