How diverse is the pharmaceutical industry?

Most recent studies show that approximately 1/3 of the top 50 pharma companies have no women on their board and only 8\% of board seats are held by ethnically diverse directors, compared with 14\% of the Fortune 500 overall.

Why is diversity important in the pharmaceutical industry?

Having a diverse and inclusive workforce enables pharmaceutical companies to better understand the needs of different patient populations, which is more important than ever as the industry increasingly focuses on personalized medicines. It also enables disruptive innovation.

What ethical perspective is practiced by the pharmaceutical company and why?

From a deontological perspective, pharmaceutical firms have a moral obligation to provide fairly priced drugs lest they use their consumers as a means to a profit rather than prioritizing fair access to medication.

What are the characteristics of an ethical pharmaceutical company?

Those articles included respect for patient’s dignity and autonomy, beneficence, non-maleficence, justice, empathy, honesty, cooperation, and excellence. In addition, the proper ethical relationship between pharmacists and patients, pharmacists and physicians, and other health-care providers were considered.

Why is it hard to enter the pharmaceutical industry?

Issues such as high R&D costs, challenging regulatory approval processes, and intellectual property obstacles are making it increasingly difficult for new companies to enter this competitive market.

How does the pharmaceutical industry affect the US GDP?

biopharmaceutical industry accounted for more than $1.2 trillion in economic output, representing 3.8 percent of total U.S. output in 2014. This total economic impact includes $558 billion in revenues from biopharmaceutical businesses and $659 billion from suppliers and worker spending. $123,107 per worker.