Paper Title :Corporate Social Responsibility of the Pharmaceutical Industries: With Special Reference to the Thalidomide Tragedy

Author :Sukhvinder Singh Dari

Article Citation :Sukhvinder Singh Dari , (2017 ) " Corporate Social Responsibility of the Pharmaceutical Industries: With Special Reference to the Thalidomide Tragedy " , International Journal of Management and Applied Science (IJMAS) , pp. 74-80, Volume-3,Issue-12

Abstract : The pharmaceutical industry has weaved a bilateral fibre for itself in the percipience of the critiques worldwide. The dichotomy in the two thread lies in the fact that on one hand it has sufficiently provided cure to life intimidating ailments however on the other hand it has failed to recognise the incapability of the 3rd estate people to buy expensive drugs. Precisely The tussles on opinion cannot overshadow the contribution of pharmaceutical companies towards the society. Pharmaceutical companies have been spending vehemently a million of dollars in developing new medicines to battle draconian diseases such as Aids and cancer. The research paper highlights the corporate social responsibility that lies with the pharmaceutical industries examining it under two different tabs. The first part of the paper provides a critique on the thalidomide tragedy wherein the right to health which forms an integral part of the responsibilities those vests with pharmaceutical industries towards the social stratum were violated at large. The paper further examines the scope of right to health and the role of pharmaceutical industries giving special reference to the liability that has been brushed off by the thalidomide industry owners. The first part concludes with a note of conflict. A critical analysis has been done to examine the liability of the parent company and states whether or not they have adequately fulfilled their responsibility after the tragedy. It criticizes the reintroduction of the thalidomide in the market and the upcoming ordeals. The second part highlights the social mandates that the pharmaceutical industries are ought to follow. Witnessing the current status quo the paper relies on primary as well as secondary data to divulge the concern of these industries in segregation of global poverty and poor health stipulations. It brings in light the laxity of Private enterprises in maintaining societal mandate or the organizational capabilities to nourish the underprivileged or provide health care to the ailing citizens midst the territorial boundaries of developing and under developed nations. The research paper concludes by providing paradigms and methodology to the issues such as setting the bench mark of the corporate social responsibilities that a pharmaceutical industry should contribute and the consequence of non-fulfilment of the same. It also proposes an effective redressal mechanism that can be incorporated for the interpretation of existing legislations. Keywords: - Corporate Social Responsibility, Accountability, Pharmaceutical Industries, Thalidomide Tragedy, Social Economic Mandates, Negligence of Private Enterprises, Developing and Under Developed Nations, Redressal mechanism.

Type : Research paper

Published : Volume-3,Issue-12

	|		PDF	|	Viewed - 40	|	Published on 2018-02-20