Main Subject - Business

The study of business ethics and its implications for different stakeholders have seen tremendous growth in the past few decades. There has also been a rise in the use and development of codes of ethics and announcements for

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ethical practices by many firms; however companies are still criticized for their unethical practices at different levels (Papers4you.com, 2006). Business ethics, according to the literature has been entrenched with the philo

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ophical details of Ethics (Trevino & Nelson, 1999). Ethics has been defined as ‘the activity of examining the moral standards of a society, and asking how these standards apply to ones life and whether these standards are rea

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

sonable’ (Velasquez, 1998; p. 11).

The literature on business ethics is divided on its views about the motivation and reason for businesses to have an ethical dimension. Drawing upon Harrison (2001), there are two major scho

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ls of thoughts, firstly those who suggest that firms are profit generating institutions and therefore business ethics is yet another way to attract customers, secondly those who support corporate conscience and intrinsic moti

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

vation for the adoption of business ethics.

Business ethics has been considered very subjective in nature and according to Paul (2001) is considered a function of time and culture. It has been established that with the passa

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

e of time business ethics have evolved and also that the cultural values and norms drive business ethics within national and regional boundaries. One of the major studies regarding the national values has been conducted by Ho

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

fstede (1983). According to this research, which was only based on four indicators i.e. individualism, power distance, uncertainty avoidance and masculinity, there is a great deal of differences among values across different

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ations and consequently the business ethics. Globalization combined with standardization has made businesses financially efficient but at the same time poses questions regarding the standardized codes of business ethics acros

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

s national boundaries.

Vinten (1991) has divided the business ethical issues at different levels i.e. international business, domestic business and professional ethics. At the international level ethical issues include free-

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

asonry and socialism versus capitalism; at domestic level these include religious dimensions, social marketing and ethical education; and lastly at the individual level these include bribery, corruption and data protection (P

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

pers4you.com, 2006).

There are many reasons and criticisms for the failure of adoption of ethics in the business world. Firstly, the concept is considered to be overly theoretical and it also negates the basic purpose of any

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

business i.e. to create shareholder’s wealth. Secondly, it has lack of direction and unanimity across different cultures and academic groups. Lastly, it has many inherent unresolved dichotomies that according to Sternberg (1

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

94) make it a case of rejected relativism.

References:

Harrison, J. (2001), Ethics for Australian Business, Prentice-Hall, French’s Forest

Hofstede, G. (1983), The Cultural Relativity of Organizational Practices and Theori

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

es, Journal of International Business Studies, Vol. 14, No. 2, pp.75-89

Papers For You (2006) "S/B/92. What distinguishes ethical from unethical business activity and how significant are the principles of business ethics in

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

odern business?", Available from http://www.coursework4you.co.uk/sprtbus21.htm [17/06/2006]

Papers For You (2006) "S/B/49. 'Should businesses strive to be ethical?' Critically Discuss", Available from http://www.coursework4y

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ou.co.uk/sprtbus21.htm [18/06/2006]

Paul, S. (2001), Cultural and Business Ethics, Cross Cultural Management: An international Journal, Volume 8 No. 1, pp 22-35

Sternberg, E. (1994), Relativism rejected: the possibility of

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ransnational business ethics, in Hoffman, W.M., Kamm, J.B., Frederick, R.E., Petry, E.S. Jr (Eds), National Conference on Business Ethics. Proceedings from the 9th Conference on Business Ethics Sponsored by the Centre for Bus

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

iness Ethics at Bentley College, Quorum Books, New York, NY, pp.143-50

Trevino, L.K., Nelson, K.A. (1999), Managing Business Ethics: Straight Talk about How to Do It Right, 2nd ed., J. Wiley & Sons, New York, NY

Velasquez,

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

.G. (1998), Business Ethics: Concepts and Cases, 4th ed., Prentice-Hall, Englewood Cliffs, NJ

Vinten, G. (1991), Business Ethics: Busybody or Corporate Conscience?, Managerial Auditing Journal, Volume 5, Number 2, pp. 123-14

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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