Legal and Ethical Considerations in Marketing, Product Safety, and Research Paper - 2

Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property - Research Paper Example In fact, it is used as a reference point by both the proponents and opponents of ethical considerations in business. The case points out how intellectual property rights can be used both to the defense of the company as well as against it. However, the success of the company was crippled by the way PharmaCARE responded to ethical and legal issues that it was faced with. Being a medical giant, it thrived on research and made a breakthrough of a diabetes drug, AD23, which slowed down the terrible infringement of Alzheimer’s (Heinrich, 2003). In the face of high demand for the product, PharmaCARE set up a sister company called CompCARE and made it the compounding pharmacy to manufacture the drug (Heinrich, 2003). Soon, it became a mass hysteria to acquire this drug thus pushing CompCARE into methods outside the scope of what a compounding pharmacy is authorized to do. According to Halbert & Ingulli (2012) the end result was the death of over 200 people from cardiac arrests associated with the drug. The results were catastrophic to all the stakeholders of the company including the workers and patients. For instance, John who was a former researcher lost his wife because of using the drug. The downfall of PharmaCARE was brought about by the unethical business practices it engaged in. In the case of PharmaCARE, ethical considerations were evidently compromised by the firm and its management. The first ethical issue is when the company wrongfully capitalized on Colberians availability to be hired at the lowest wage rate thus exploiting their labor for a meager amount of compensation. Moreover the willingness of the locals to share vital information regarding indigenous cures was also exploited and the benefits did not trickle down to the indigenous people. In so doing, the firm violated legal and moral boundaries of a civilized and ethical society (Veatch & Haddad, 2008). The actions of the firm were also an evident