Merck, the Fda, and the Vioxx Recall Essay - 1113 Words

Do you believe that Merck acted in a socially responsible and ethical manner with regard to Vioxx? Why or why not? In your answer, please address the company’s drug development and testing, marketing and advertising, relationships with government regulators and policymakers, and handling of the recall. No, Merck didn’t act in a corporate social responsibility in regards to Vioxx. Corporate social responsibility means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. Over a five year period from 1999 to 2004 over 139,000 people in the United States has had a heart attack or stroke as a result of†¦show more content†¦For example, the state of Texas has sued Merck for violating its Medicaid fraud law and demands $168 million from the company. What should or could Merck have done differently, if anything? It appears that Mercks executives either forgot to follow or chose to ignore George W. Mercks advice when they made decisions regarding Vioxx. In our free-enterprise system, the basic purpose of a company should be to satisfy its target customers needs and wants effectively, competitively, ethically, socially responsibly, and profitably. Companies express this idea through different words in order to fit their particular business situations. What is the best way for society to protect consumers of prescription medicines? Specifically, what are the appropriate roles for pharmaceutical companies, government regulators and policymakers, patients and their physicians, and the court system in assuring the safety and effectiveness of prescription medicines? Although a successful business must be a profitable one, the corporate behavior of maximizing profit at the expense of ethics and social responsibility is highly objectionable and should be discouraged. The Vioxx recall case is a perfect example. A business must carefully balance profit and social responsibility. When business executives fail to maintain this balance and seek undeserved or excessive profit, problems will occur. Such problems frequently cause severe damage to bothShow MoreRelatedThe Vioxx Recall - Merck and FDA2585 Words   |  11 PagesCentral Problem In the Merck, the FDA, and the Vioxx Recall case study, the question as to whether or not Merck conducted itself in a socially responsible and ethical manner with regard to Vioxx is the central problem we will examine in this case. Many argue that the sole problem lies within the pharmaceutical company Merck and Co., Inc., and while that may in fact be the case, other parties such as the Food and Drug Administration (FDA) can be held responsible as well. Merck a â€Å"research driven† pharmaceuticalRead MoreMerck, the Fda and the Vioxx Recall Essay728 Words   |  3 PagesMerck, the FDA, and the Vioxx Recall 1. Do you believe that Merck acted in a socially responsible and ethical manner with regard to Vioxx? Why or Why not? In your answer, please address the company’s drug development and testing, marketing and advertising, relationships with government regulators and policymakers, and handling of the recall. I do not believe that Merck made a socially responsible decision when Vioxx was introduced into the pharmaceutical market. Scientists that were involvedRead MoreMerck : An Ethical And Socially Responsible Drug Manufacturer1453 Words   |  6 PagesQuestion 1 Merck was known as an ethical and socially responsible drug manufacturer. Back in 1950, George W. Merck, CEO, said, â€Å"We try never to forget that medicine is for the people. It is not for the profits† (Lawrence Weber, 2014). Merck was also known for research and innovation in developing new drugs as well as their philanthropic efforts. This was a company that had built its success on a solid reputation of being an ethical and socially responsible organization. The Vioxx case is evidenceRead MoreMerck : A Product Recall843 Words   |  4 Pagesthe Product recall involving the Drug Company known as Merck, who produced the drug Vioxx use to treat osteoarthritis, and acute pain in adults. Looking at the relationships Merck had with government and lobbyist one can see what actions the drug company may have taken to lead them to this recall. In Addition, This paper will look at the actions Merck took in the approval process and recall of their drug. Using all information pro vided on this case this paper will decide whether Merck was ethicallyRead MoreMerck Vioxx Recall1169 Words   |  5 PagesMerck, the FDA, and the VIOXX Recall MBA 520-D4C2 Ethics Leadership in a Global Environment April 22, 2012 Merck and Vioxx Recall Did Merck act in social and ethical manner? In 2005, Merck was ranked fourth in sales among pharmaceutical companies. Merck had released the drug Vioxx, for treating Osteoarthritis in late 1990. Merck as a company has a reputation of being one of the most ethical andRead MoreEssay on Case Study: Merck Company: the Vioxx Recall2018 Words   |  9 PagesRunning head: CASE STUDY: MERCK COMPANY: THE VIOXX RECALL Merck Company: The Vioxx Recall Albert Balogun California Baptist University BUS 520A: Managerial Ethics Jim Bishop, PhD June 30, 2010 Merck Company: The Vioxx Recall The issues involved in Merck, a pharmaceutical manufacturing company’s recall of one its products, Vioxx, is the effect of direct-to-consumer (DTC) advertising of prescription drug on the society publicRead MoreMerck : A Successful And Reputable Pharmaceutical Company3183 Words   |  13 Pages â€Æ' Background on the Case Study For years, Merck had been a successful and reputable pharmaceutical company that was known for its high-quality products and world-class research centres, and was often regarded in a good light compared to its less favourable competitors. However, all this fell apart in the early 2000s with the recall of the company’s â€Å"blockbuster† drug â€Å"Viroxx.† It was meant to act similar to ibuprofen in ways that it cured osteoarthritis and acute pain, but was withdrawn in 2004Read MorePharmaceutical Industry and Drug Essay2404 Words   |  10 Pagesbalance, do you think Merck is an ethical and socially responsible company? Why or why not? How about Pfizer? In my opinion, Merck is not an ethical and socially responsible company with introducing Vioxx into pharmaceutical market. Before the Vioxx approval by FDA, scientists from University of Pennsylvania found that the drug could bring some serious results such as cardiovascular, and there were many serious cardiovascular problems during testing on patients. However, Merck ignored these negativeRead MoreMerc Vioxx Case3187 Words   |  13 PagesMerck and the Recall of Vioxx Florence N. Wandera MGT 600 – Corporate Responsibility Bus Law Merck and the Recall of Vioxx Case Summary Merck Co. Inc. is a global research-driven pharmaceutical company that develops, manufactures and markets a broad range of human health products. One such product is Vioxx, developed in 1994 and approved on May 21, 1999 by the United States Food and Drug Administration (FDA) for the treatment of pain, inflammation, and stiffness caused by arthritisRead MoreEssay about Business Analysis: Merck Co. 1383 Words   |  6 PagesIntroduction Since its humble beginning as a small drugstore, Merck has placed a large amount of importance on improving the health and well-being of its customers. As drug patents expire and genetic forms of their top products become available, Merck’s strategy is to do the unexpected; instead of raising the price of their older products in favor of patent protected new drugs, Merck focuses on reducing their cost in order to better compete with their generic counterparts. Additionally, Merck’s