Apex Pharmaceuticals Company Ltd. is a well reputed multinational company dealing in manufacturing and marketing of life saving drugs and formulations. Company's Research and Development (R & D) Department is activel
CS Professional · Ethics, Governance and Sustainability · PYQS · December 2017
Apex Pharmaceuticals Company Ltd. is a well reputed multinational company dealing in manufacturing and marketing of life saving drugs and formulations. Company's Research and Development (R & D) Department is actively engaged in development and formulations of new drugs in general and life saving drugs in particular. While experimenting with a chemical molecule, R & D department sees the possibility that a molecule may be developed into a drug that may prove very helpful in the treatment of a rare, painful and life threatening genetic disease, for which no effective drug is available at present in the market, but which afflicts to only one child in one million. However, development of the drug will require investment of huge sum of investors' money of the company, despite the drug may not have saleability. The R & D department of the company brings this to the notice of Mr. Ram, who is the CEO of the company. Taking the above facts into consideration, answer: (ii) As a CEO, in place of Mr. Ram, how you would have acted in such situation?
Answer & Explanation:
As CEO in place of Mr. Ram, I would have opted the following course of action to resolve this ethical dilemma. Defining the problem clearly; Getting the collection of the statistical data across the globe, the previous history of such type of genetic disease and probable cause of its spreading in the coming time; Searching and developing all possible options available; Evaluating each available option carefully in term of pros and cons of each of them; Taking the senior management (Board of Directors, etc.) in confidence and keep them apprising of the situation; Comparing positive and negative consequences of each option; Choosing the best available action keeping resources and other prevailing situations of the company in mind; and Properly implementing the decision taken and keeping the follow-up of the same.
Topics: Ethics
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