Assignment 12.docx - Assignment 12 Case Profiting from Pain \u2013 The Opiod Epidemic#32 1 How would you describe the pharmaceutical industry\u2019s strategy

Assignment 12.docx - Assignment 12 Case Profiting from Pain...

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Assignment 12 Case: Profiting from Pain – The Opiod Epidemic (#32) 1. How would you describe the pharmaceutical industry’s strategy leading up to the opioid crisis? Is it ethical? Why or why not? I believe they were trying to avoid the crisis by regulating the industry so heavily but their controls were inefficient. Unethical. 2. Is there anything that the pharmaceutical industry has done or is now doing in the aftermath of that crisis that could legitimately be considered as “unethical” by its stakeholders? What grade would you assign to the industry for its handling of the crisis? Explain. Yes! They were promoting the use of their addictive drugs to improve their financial standings with no regard to the long-term affects on society. I would assign a C-. One purpose of a business is to make money. So even though their efforts were highly unethical they were doing what they thought would benefit the company 3. In what ways, if any, should the stakeholders in the U.S. opioid crisis bear responsibility? Are there any changes to the industry actors’ CSR strategy that you would suggest? I believe they should take half of the responsibility. Taking any drugs comes with a risk, even those prescribed to you. I would suggest that they more heavily watch areas that have high amounts of addictive drugs being dispensed. 4. If some shareholders complained that the pharmaceutical industry has been spending too little or too much effort on corporate social responsibility, what would you tell them? I would say that the company has a duty to protect its stakeholders, and not just its shareholders. Especially one that has the potential to reek so much havoc on society.

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