About the assurance on the benefits of some pharmaceutical companies discussed, I believed that it would be improper to generalize that all pharmaceutical companies’ only intention is to make money; some companies are pursuing science and health. For example, the Pharmaceutical Affairs Law or PAL is applicable to the medical devices and drugs. Specifically, it measures geared toward medical devices. One of the goals of the PAL reform effort is to build up distinct regulations for medical devices as opposed to the rules that are currently applied to the devices and pharmaceuticals.
Concerning a friend’s excitement about a new stock opportunity whose products could sell well worldwide, I would advise him to conduct background check to make sure that current products can be trusted in terms of health efficiency and investment are both safe. It is her freedom to invest to a new stock in the market. However, it is a fact that some ethical investors avoid putting money into pharmaceutical companies that they believe regularly ignores ethical standards by selling products that are not thoroughly tested, not being explicit enough concerning the potential side effects of their products, or experimenting on vulnerable sections of the populations. In this perspective, surely as a friend, I would guide him what are the best things to do.
I would make sure that my money is invested wisely; the medical company to where I invested is an advocate of health of the public and would never use harmful pharmaceutical drugs. Surely, the company I previously belong would do the same.
In Japan, the manufacturers are eager to commercialize and undergo highly complex and lengthy medical devices registration process. They planned PAL amendments and Pharmaceuticals and Medical Devices Agency or PMDA changes ease the markets in the entry pathways for many foreign manufacturers .
Reference
Eisenhart, S. (2014, March 28). Pharmaceutical Affairs Law (PAL): Japanese Regulators Plan
Faster Medical Device Registration Process. Japan.
Stanwick, P., & Stanwick, S. (2009). Understanding Business Ethics. Upper Saddle River, NJ:
Pearson Prentice Hall: .
