Describe and contrast 2 intellectual and ethical mindsets that have shaped the direction taken by drug research companies: -curing disease or at lest alleviating its symptoms; and - the philosophy (scientific in nature) aims at the reliability and reproducibility of the process by which drugs are discovered and developed.© BrainMass Inc. brainmass.com March 21, 2019, 10:35 pm ad1c9bdddf
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Drug research companies usually have interests on certain medicine fields (i.e. Biogen Idec focus on neurological disorders and autoimmune diseases). They are also bound by their duty to shareholders to concentrate on generating profits and increasing stock price and market share (Wendler, 2009). These parameters shape the type of research that the company will engage. Therefore, the philosophy of economics, balancing welfare and efficiency, rule the decision a research company takes to develop a drug.
To develop a drug that cures a disease, the company needs venture capital and the willingness of the shareholders to wait for profits and endure possible failure. Thus, the welfare of the individual is placed first in the decisions of the company. Usually, only after the drug company has a fair market share and steady income, can it look for more risky endeavors as is developing a drug that will cure a ...
The solution consists of an essay that discusses the delicate balance that can exist between the ethical principles and can chape the direction of a drug research company. It includes what entitles developing a new drug or creating a copy of an existing one, and a discussion of the phases that are part of developing a drug. It also analyzes how each can influence the decision the drug company takes.