How ethical is the 'ethical' industry

Published: June 21, 2007, 8:26 am

Tags: drug research and development, insider trading, pfizer, trovan, pharmaceutical industry

I am in the middle of preparing a presentation on the innovative ('ethical') pharmaceutical industry. After just a few hours on the net, searching for misdeed, I stumbled about incident after incident after incident. Here's a bullet point list of some of the stuff I found:Merck: VIOXX withheld information about health risks from patients and regulatorsPfizer: Trovan law suits by victims and Nigerian government pendingBayer: Guilty of defrauding MedicAid in the USAPfizer: Neurontin fraudulently promotes drug for unrelated usesGSK: Paxil lied about effectiveness and safetyGSK: Guilty of defrauding MedicAidIMClone: Insider tradingTAP: Guilty of defrauding government by bribing doctors into prescribing its drugs instead of cheaper but equally efficient alternativesGSK: Omitted to tell patients and doctors voluntarily that its diabetes drug Avandia results into a 43% higher likelihood of heart attacksSchering-Plough: Criminal investigation sold misbranded and unapproved

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