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Corporate Governance & Ethics - Case Study Example
Finance & Accounting
Pages 14 (3514 words)
Corporate Governance and Ethics: GSK Case Study Introduction GlaxoSmithKline is one of the largest pharmaceutical companies in the world, currently ranked at fourth in world based on market capitalization and the number of subsidiaries in the world following Pfizer, Novartis and Sarnoff multinationals…
The drugs manufactured by the company targets diseases such as asthma, viruses, infectious diseases, diabetes and digestion related complications (Mathew, 2011). The drug Industry controls a significant amount of the global revenue with drugs constituting over 10% of medical cost in the United States. It is also considered as one of the fastest growing segment in the world economy with significant research being conducted with pharmaceutical giants like GlaxoSmithKline international. A number of patents and ethical issues that guide the processes of drug discovery, clinical trials and marketing control the pharmaceutical industry. In this paper, ethical issues that guide the pharmaceutical industry will be analysed with emphasis placed on the practices of GSK and how lapses in the ethical practices has affected its ability to market high quality products. The processes of ensuring ethical practices within pharmaceutical discoveries, marketing and post market surveillance will also be evaluated to identify how GSK failed to prevent future ethical dilemmas. Ethical mistakes and conducts have a number of consequences on the reputation of a company as it affects the attitude of the market towards the company. ...
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