Pharmaceutical is one of the worlds major and on the rise industries.

In general, this industry conduct research and development on drugs required to cure disease and sickness in order to satisfy the societys need. Pharmaceutical industry aimed to increase the level of competitiveness thus keeping the prices of drug at the compatible level. There are a lot of controversial issues regarding this developing industry. Most firms neglect practising proper ethics in a few aspects such as research and development, marketing and sales. Subsequently, the economy in this field is intense whereby the cost of development is high while the cost of production is low. Furthermore, there is an argument whether the pharmaceutical company concerning the crucial of applying ethical standards in performing their business.

1 There are numerous ethical issues in this field that concern the consumers worldwide. Clinical test is one of the main processes in research and development of a drug. In order to perform an ethical clinical test, several conditions must be obeyed by the researchers. For example, a valid consent must be agreed by researcher and their volunteers before the test is conducted. A detail description about the experiment should be informed to the particular volunteer to avoid misunderstanding. The subject of the test must be respected for his human right and his privacy protected.

Next, approval of a new drug by a government agency such as the Food and Drug Administration (FDA) in the United States should have zero corruption. This include bribery, biased and deceitful the evaluation and approval process. The new drug must undergo strict inspection and regulation before it can be endorsed in the medicine field.

Another concerned problem is the readiness of the firm to include humanity ethics in decision making of the management team. Typically, a firm would prioritize in making profit without regards of the ethics in the operation of the business. Time and capital is the key of this trade. The longer the time taken for a drug research, the higher the cost a firm have to bear. This raises questions concerning whether the researcher has conduct adequate experiments and test to ensure the quality of the drug.

From the marketing perspective, pharmaceutical company should provide accurate and sufficient information regarding their product. Precise medical conditions can evade the patients from misuse of the drug. Likewise, the researcher must publicize the risks of the drugs to the consumers. Despite the firms objective in profitable business, it is the users right to be aware the researcher must publicize the risks of the drugs to the consumers.

From the material given, Raven Biotechnologies attended almost all of the ethical issue stated above. Firstly, Mather used the modern monoclonal technology in its production techniques. Though it required additional investment on technologies, Mather chooses a way that is less risky for her future client. Additionally, Mather practise ethical methodology as a guideline in decision making particularly in manoeuvring the business.

2 Pharmaceutical industries are well known for its high expenditure for the research and development (R&D) process. This is one of the reasons why drugs are charged with an expensive price by most of the company. A pharmaceutical firm need to invest a big amount of money just to produce and develop new drugs due to the complex process. Total investments made had escalate and nearly doubled, for about 17 billion USD in 1996 to 32 billion USD in 2002 (PhRMA, 2003;Saari, 2004). The process of testing a new drug on human and animals before it can be approved by a drug administration are lengthy and costly. The total time necessary for the R&D process before the drug can be marketed to the consumers were estimated about 10 to 15 years (PhRMA, 2003) (Saari, 2004). Thus, it is understandable why a pharmaceutical company charged such prices on drugs. However, poor countries cannot afford to purchase drugs they want due to the high prices. This is a misfortunate for them, knowing that the people in poor country are easily exposed to infectious disease. One of the reasons is because this country has high rate of population. Drug prices in these countries should be reduced for a more reasonable price. In the Third World country, most of the citizen died of treatable disease such as Malaria and acute lower-respiratory infections which killed almost 6.1 million lives. (Silverstein, 1999) (Shah , 2010). Other than that, price of a drug must be reduced as it is one of the most frequent thing uses. Thus it became one of the necessities.

3 High ethical measure is very crucial because it acts as a guideline in the industry. This is to ensure every process happen smoothly in the trade, thus reduces the percentage of risk encountered. Furthermore, it sustains the patient privacy and confidentiality which allow the patient to reveal sensitive information to the pharmacist. Without this, it will make the patient feels reluctant to disclose such data that will lead to many complications of the experiment. Besides, it does ensure the quality of production of new drug. Good Manufacturing Practice (GMP) is part of a quality system embracing the production and examining of pharmaceutical dose. (Nordin,2012). This is to prevent any dangerous side effects that can be occurred to the patient.

These days public had become more aware of pharmaceutical standards due to many reported cases related to this issue. Pharmacological company should disclose all important details related to the drugs to the communities. This will give the consumer sense of security and showed them that the company had followed the great ethical criteria.

As a conclusion, pharmaceutical industry is a field where the ethical standard is a vital. It is a parameter that ensures all the development and production of new drug is harmless and comply with the law. In addition, the price charged for the drug has to be reasonably priced as medicine has become one of the essentials in human daily life nowadays. Government should support this industry to enable citizen who live below poverty level can have the access to this goods when needed.