Preview

Pharmacare Case Study Analysis Essay

Better Essays
Open Document
Open Document
2774 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Pharmacare Case Study Analysis Essay
Assignment 4
Leg 500
PharmaCare Company’s Study Analysis
Laquita Watson Professor Frank Hatstat
Strayer University

1. Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety and examine whether PharmaCare violated any of the issues in question.
There is much ethical concern available which possibly relate to marketing and advertising intellectual property, and regulation of product safety. However, there are some common ethical concerns which must be included by any organization while framing these areas and with the focus of such concern organization can ensure an effective and legal ethical relationship.
Marketing and Advertising:
Direct to consumer
…show more content…

This was an U.S. based company and it had opened its subsidiary by the name of CompCare where it has formulated the new drug so that it can sell that drug to all individuals and various pharmacies outlets on the basis of required prescription. Once FDA researched and they discovered that PharmaCare pharmacist are reformulating the drug AD23 to maximize its effects, CompCare will get protected by patenting the new drug under the FDA and U.S. patent and U.S. Federal Trademark laws. (“STATE REGULATION OF COMPOUNDING PHARMACIES”)
Out of the three ways in which PharmaCare can compensate the John are, 1) Through financial incentives because it was the John and his team who had reformulated the medicine so he can be compensated in monetary terms because he is the member of the inventor team of AD23.
2) The company can provide facilities and environment to John where he can foster his creativity. He should get the cost and risk of securing the IP. CompCare can sign a contract with John where it can promise the payment of life time
…show more content…

These Intellectual properties are protected by patents, trademarks and copyrights under the state and federal laws. Stealing these intellectual properties is considered as a crime and the organization and/or an individual who did this theft has to bear harsh levels of punishment. South Korean giant, Samsung is blamed by Apple for stealing its intellectual property rights. Apple says that Samsung has copied its hot selling product iPhone features and illegally fixed the prices so that they can attract large number of customers and become the dominate player of the market. Apple iPhones are copied by Samsung and today, it has become a leading player of the global market. (Tobak 2014, Jun

You May Also Find These Documents Helpful

  • Good Essays

    The PEI will receive royalties associated with future revenues of X (if/when it has been successfully developed)…

    • 960 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Teva Pharmacuetical

    • 2882 Words
    • 12 Pages

    More than 100 years ago Teva Pharmaceuticals opened their doors as a wholesale drug distributor in Jerusalem. Today they have become the world’s leading producer of generic pharmaceuticals. Revenue has grown from $91 million in 1985 to $8.5 billion in 2006. This growth has not been easy and derives from key strategic decisions made along the way in order to amass these huge dollars amounts. Teva’s mission is to play a leading role in the transformation of the healthcare system through the development, manufacture and marketing of generic pharmaceuticals. Teva’s organizational structure is a symbol of their fundamental business strategy, highlighting their global strength and pharmaceutical diversity. This allows them to continue to expand their core generic business across all geographies and leverage their global reach and scientific strength to develop new innovative products and technologies. Teva has picked an industry in which there will always be a need, medicine. However, it is their approach to prescription medicine that will decide the future of Teva.…

    • 2882 Words
    • 12 Pages
    Powerful Essays
  • Better Essays

    LEG 500 Assignment 3

    • 3260 Words
    • 14 Pages

    1. Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety.…

    • 3260 Words
    • 14 Pages
    Better Essays
  • Best Essays

    Ldr 531 Week 5

    • 2421 Words
    • 10 Pages

    Plunkett, J. W. (August 19, 2010). Domestic & Foreign Pharmaceutical Sales, PhRMA Member Companies: 1975-2009. [Electronic version]. Biotechnology, Drugs & Genetics Industry. Retrieved October 24, 2010 from http://www.plunkettresearchonline.com…

    • 2421 Words
    • 10 Pages
    Best Essays
  • Good Essays

    The parties involved in the article is the pharmaceutical companies, health care professionals, and patients. The pharmaceutical companies…

    • 738 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Ethics and Pharmacare

    • 2854 Words
    • 9 Pages

    In this paper I will analyze and assess legal and ethical modifications on marketing relations as it relates to both consumers and organizations. This research will analyze three to five ethical issues that relates to marketing and advertising, intellectual property, and regulation of product safety. The discussion of arguing for or against Direct-to-Consumer (DTC) marketing by drug companies will also be analyze. This paper will also determine who regulates compounding pharmacies under the current regulatory scheme, what the Food and Drug Administration (FDA) could/should have done in the PharmaCARE scenario and whether the FDA should be granted more power over compounding pharmacies.…

    • 2854 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    1. Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety.…

    • 472 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    PharmaCare essay

    • 3754 Words
    • 16 Pages

    The twenty-first century has seen pharmaceutical companies grow in unprecedented size and strength. Due to the unprecedented growth the larger pharmaceutical companies have gained leverage and power in the prescription drug industry, but they lack innovation to market and they seek ways to help the business continue to increase its profits. The pharmaceutical industry was once ethically sound and was a valuable player in the development of human health. However, overtime with the lack of innovation pharmaceutical companies are becoming an unethical market that exploits patients, doctors and anyone else it can to increase its profitability. With eyes only on profitability this can create a hazard for patients because there is deficient testing of the drugs prior to the drugs hitting the American market. In this research paper we will cover the many facets of PharmaCare, Coleria, and Wellco and the drug AD23 side effects, and its manufacturing in an impoverished nation with the low wages and unsafe working conditions. All of which will be covered throughout this document.…

    • 3754 Words
    • 16 Pages
    Powerful Essays
  • Better Essays

    LEG 500 A4

    • 3367 Words
    • 10 Pages

    Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety.…

    • 3367 Words
    • 10 Pages
    Better Essays
  • Satisfactory Essays

    Questions 6

    • 535 Words
    • 2 Pages

    2. What are the regulatory and legal issues related to drug and pharmaceutical development and sale?…

    • 535 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Fda Research Paper

    • 2368 Words
    • 10 Pages

    Sauer, C., & Sauer, R. M. (2007, October). Is It Possible to Have Cheaper Drugs and Preserve the Incentive to Innovate? The Benefits of Privatizing the Drug Approval Process. Journal of Technology Transfer, 32(5), 509-524. doi:http://dx.doi.org/10.1007/s10961-007-9036-0…

    • 2368 Words
    • 10 Pages
    Better Essays
  • Good Essays

    Biomax Case Summary

    • 1049 Words
    • 5 Pages

    The Company's primary strategy is to get those prescriptions surrendered by other pharmaceutical organizations. Despite the fact that the Company has received 4 standards to screen among the competitors, in any case it confronts the potential danger of disappointment. Drug organizations relinquished these items for a mixture of great reason including security, viability and benefit potential. Why does the Medicines Company have the Golden Finger? There is no such ensure that items which consent to the 4 criteria will end up being a blockbuster product. The Company seems to fail to offer an agreeable advertising arrangement for Angiomax and other future medications that are coming to company regarding to FDA. So we should stay sensible about…

    • 1049 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    3. Important Information I need to know to answer these ethical questions. What research needs to be done?…

    • 516 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    GlaxoSmithKline is a leading, global, research-based healthcare and pharmaceutical company. In India, it is the number one pharmaceutical company. GlaxoSmithKline plc (GSK) is a British multinational pharmaceutical, biologics, vaccines and consumer healthcare company headquartered in Brentford, London. As of March 2014, it was the world's sixth-largest pharmaceutical company. GlaxoSmithKline Pharmaceuticals Ltd is an Indian subsidiary of GlaxoSmithKline plc, one of the world's leading research based pharmaceutical and…

    • 6776 Words
    • 28 Pages
    Powerful Essays
  • Good Essays

    Sales and Marketing Department: ethical conflicts arise from the different needs and wants from different consumers. Sales and marketing experiences a great deal of ethical issues which arises from marketing policies, the way they communicate with the customers, methods of pricing and distribution. Proper ethical practices will see to it that the sales and marketing team do not target vulnerable customers to consume or use spoiled products and services, dangerous or redundant products. They should ensure that products have correct labelling that tells customers exactly what they are purchasing (ferrell,…

    • 706 Words
    • 3 Pages
    Good Essays