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Note: this answer has been written for the purposes of explanation; Hence, it may not adhere to word limit. For examination purposes, phrases instead of full sentences could be used.

INTRODUCTION:

  • The above case presents a situation where a drug for a currently incurable liver disease can be developed by my company. However, the development process involves a huge expenditure in R&D. Also the cost of drug development is unlikely to be recovered, making it financially unviable for my company to develop the drug.
  • Analysis of the options available along with merits and demerits of these actions is as follows:

1.Option 1- Approach relevant Government organisations or non-profit sector and seek help for funding the R&D

Merits Demerits
Public interest, especially of the impoverished tribal communities, upheld No financial benefits for company
Company/lab fulfilling its moral responsibility to take care of public interest; could be classified as Company CSR Logistics and Human Resources of company used for non-profitable activities
Personal moral obligations as a human being, to look for greater good of humanity fulfilled Secret processes of drugs manufactured by company may be compromised
Would ensure adequate funds for the development of the drug Approaching government organisations etc may delay the drug development and might compromise the extent of benefits to humankind
Can help in the overall research development of pharmaceutical industry adding extra knowledge to human repertoire, may help in future drug developments.  

2.Option 2- Approach other companies/labs and try to develop the drug as a joint project

Merits Demerits
Public interest, especially of the impoverished tribal communities, upheld No financial benefits for company; Duty to look at company’s interests as CEO compromised
Company/lab fulfilling its moral responsibility to take care of public interest; could be classified as Company CSR Logistics and Human Resources of company used for non-profitable activities
Personal moral obligations as CEO to look for greater good of humanity fulfilled -Secret processes of drugs manufactured by company may be compromised-might give other companies an advantage in market share
Would ensure adequate funds for the development of the drug Might be difficult to convince other companies to undertake the project just as a public good and not for profit

3.Option 3- Take upon the moral responsibility to develop the drug using company CSR funds etc

Merits Demerits
Public interest, especially of the impoverished tribal communities, upheld Duty to look at company’s interests as CEO compromised
Company/lab fulfilling its moral responsibility to take care of public interest; could be classified as Company CSR No financial benefits for company
Personal moral obligations as CEO to look for greater good of humanity fulfilled Logistics and Human Resources of company used for non-profitable activities
  Company may not have adequate funds for the project

4.Option 4- Abandon the drug development idea as it is financially unviable for the company

Merits Demerits
Duty to look at company’s interests as CEO discharged Public interest abandoned
The logistical and human resources of the company can be used to engage into more profitable projects Company/lab NOT fulfilling its moral responsibility to take care of public interest
  Personal moral obligations as CEO to look for greater good of humanity NOT fulfilled

Conclusion: Hence, as CEO, the ethically more suitable way out would be to undertake either options 1 or 2. This must however, be done with a lookout to minimise the demerits in the form of excess diversion of companies resources and compromise of company secrets. Also, the possible delay in seeking outside help must be minimised for the greater good

Read 164 times Last modified on Tuesday, 12 July 2016 15:53
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