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  • Cited by 4
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    This chapter has been cited by the following publications. This list is generated based on data provided by CrossRef.

    Catenaccio, Paola 2017. Argumentation across Communities of Practice. Vol. 10, Issue. , p. 197.

    Huebner, James M. 2014. Moral Psychology and the Intuition that Pharmaceutical Companies Have a ‘Special’ Obligation to Society. Journal of Business Ethics, Vol. 122, Issue. 3, p. 501.

    Osimani, Barbara 2010. Pharmaceutical risk communication: Sources of uncertainty and legal tools of uncertainty management. Health, Risk & Society, Vol. 12, Issue. 5, p. 453.

    Little, Roy J. Pestano, Alexis A. and Parra, Zaida 2009. Modeling of peroxide activation in artemisinin derivatives by serial docking. Journal of Molecular Modeling, Vol. 15, Issue. 7, p. 847.

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  • Print publication year: 2005
  • Online publication date: December 2009

Introduction: Charting a Sustainable Path for the Twenty-First Century Pharmaceutical Industry

Summary

This industry delivered miracles, and now they're throwing it all away. They just don't get it.

Dr. Roy Vagelos, former Chairman, Merck & Co.

The unraveling of the “grand bargain”

Perhaps no business engages the worlds of science, medicine, economics, health, human rights, government, and social welfare as much as the pharmaceutical industry. As the twenty-first century begins, however, there is growing controversy and even hostility in the relationship between the pharmaceutical industry and the public. The millions of individuals, families, and communities throughout the world that have been stricken by the scourge of AIDS offer the most tragic human face to this controversy, but it is no overstatement to say that the pharmaceutical industry impacts the life of virtually every person in the world.

What we are witnessing is the unraveling of a “grand bargain” between the pharmaceutical industry and society. This grand bargain was a complex, implicit social contract that allowed the modern global pharmaceutical industry to emerge in the second half of the twentieth century. Although the industry prospered immensely, society also enjoyed a bountiful array of life-saving and life-enhancing drugs. As the twenty-first century begins, however, this grand bargain is in tatters and public mistrust and resentment of the industry run feverishly high. Many feel that the enormous industry profits are not sufficiently matched by contributions to the common good. What factors are behind this growing tension between the pharmaceutical industry and society?

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Ethics and the Pharmaceutical Industry
  • Online ISBN: 9780511610769
  • Book DOI: https://doi.org/10.1017/CBO9780511610769
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