Should there be a balance between making a profit for pharmaceutical company owners and providing life-saving or life-extending drugs to customers? How much profit is too much profit and who determines the amount? How does that ‘balance’ get achieved?
Should there be a balance between making a profit for pharmaceutical company owners and providing life-saving or life-extending drugs to customers? How much profit is too much profit and who determines the amount? How does that ‘balance’ get achieved?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Should there be a balance between making a profit for pharmaceutical company owners and providing life-saving or life-extending drugs to customers? How much profit is too much profit and who determines the amount? How does that ‘balance’ get achieved?
Expert Solution
Step 1
Live saving drugs are produced are priced by keeping in mind the making situation and the part of population who will consume it and the prices of their competitors and what percent will the distributor and seller will consume thus after keeping all this in price of the medicine are listed.
And it is not an easy task to determine the price.
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