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A pharmaceutical company has developed a life-saving drug but plans to price it

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Question: A pharmaceutical company has developed a life-saving drug but plans to price it at a level that only wealthy patients can afford. What is the ethical dilemma?

Options:

  1. Profit vs. accessibility
  2. Research vs. profit
  3. Innovation vs. ethics
  4. Quality vs. cost

Correct Answer: Profit vs. accessibility

Solution: 

The ethical dilemma is between profit and accessibility, as the drug should be available to all who need it.

A pharmaceutical company has developed a life-saving drug but plans to price it

Practice Questions

Q1
A pharmaceutical company has developed a life-saving drug but plans to price it at a level that only wealthy patients can afford. What is the ethical dilemma?
  1. Profit vs. accessibility
  2. Research vs. profit
  3. Innovation vs. ethics
  4. Quality vs. cost

Questions & Step-by-Step Solutions

A pharmaceutical company has developed a life-saving drug but plans to price it at a level that only wealthy patients can afford. What is the ethical dilemma?
  • Step 1: Understand that the pharmaceutical company has created a drug that can save lives.
  • Step 2: Recognize that the company wants to sell the drug at a high price.
  • Step 3: Identify that only wealthy patients can afford this high price.
  • Step 4: Consider that many people who need the drug may not be able to pay for it.
  • Step 5: Realize that this situation creates a conflict between making money (profit) and helping everyone who needs the drug (accessibility).
  • Step 6: Conclude that the ethical dilemma is whether to prioritize profit or to ensure that the drug is available to all patients, regardless of their financial situation.
  • Ethical Dilemma – The conflict between prioritizing profit for the company versus ensuring that a life-saving drug is accessible to all patients, regardless of their financial status.
  • Healthcare Equity – The principle that all individuals should have equal access to healthcare resources, including life-saving medications.
  • Corporate Responsibility – The obligation of companies to act in the best interest of society, which includes considering the impact of their pricing strategies on public health.
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