BUS 356: Business Ethics - Modern ethical issues presentation

1. Big Pharma Ethical Issues
KARL KRISTENSEN

2. Overview
 Martin Shkreli
 EpiPen
 Pharma Monopolies & the Government
 Ethical Questions

3. Martin Shkreli
 Retrophin
 Thiola
 Turing Pharmaceuticals
 Daraprim
 Currently on bail for securities fraud

4. EpiPen
 Mylan acquired the product in 2007
 FDA delayed potential competitor
 Generic product agreement
 Cost in Canada

5. Pharma Monopolies & the
Government
 20 year patent protection
 Per capita pharmaceutical spending in USA vs other countries
 Lobbyists

6. Ethical Dilemma
 Can you justify increasing the costs of pharmaceutical products to cover
your R&D costs?
 Is it ethical to set prices so high that the average person can’t afford life
saving treatments?

7. Sources
 http://www.ethicssage.com/2015/11/big-pharma-where-is-corporate-
social-responsibility-with-high-drug-prices.html
 http://articles.mercola.com/sites/articles/archive/2016/09/07/epipen-
cost.aspx
 http://time.com/4475626/epipen-price-pharmaceutical-crisis/