There are many diseases and somas, much(prenominal) as Tourett Syndrome, Myoclonus, Muscular Dystrophy, and Huntingtons disease, that alter such a small number of people indoors the US borders that the diseases and conditions is classified as rare. Since thither is such a small market (people), that are effected by any one rare disease or condition, a drug company which develops an orphan drug may sensibly expect the drug to generate relatively small sales/profits, in comparison to the cost associated with developing the drug and therefore incur a financial loss. Thus, our capitalistic approach of fork out (available goods) and demand (the number of consumers that desire such good) spearhead our frugal base. (Ferrell, Fraedrich, Ferrell, 2005).
In other words, there is no large profit or a chance to increase stock prices for the manufacturing of Orphan Drugs, which is utilise in the treatment of rare disease. In my opinion, the ethical issues that condescension wrestle with are profits margins. Despite medical advances, there are still many diseases for which there are no cures. The cost of bringing drugs to market can exceed the 300, 000 mark. The blue cost of developing a new product and introducing it into a small market for the treatment of some rare diseases is unproductive and little attention is received.
To entice pharmaceutical companies to change there ethical behavior and place social responsibility beforehand of profits. Congress passed in the 1983 Orphan Drug Act; with the place of which was to stimulating the development of drugs with limited market potential, because either the condition was so uncommon or the drugs development and manufacturing costs were to a fault high, (Williams, Torrens, 2000). Most people though would be shocked to sack out that an orphan drug is one that is used to treat to a greater extent than just rare disease. By their...
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