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The Pros And Cons Of Pharmaceutical Companies

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According to a Social Security report, the national average wage was $48,098 in 2014 (Social Security, n.d.). The average American earns less than 1% of a CEO. An article by Shana Lynch, explains that Americans “thought CEOs earned nearly $1 million, whereas the real average is about $10 million” (Lynch, 2016). The debate over CEO compensation has been widely discussed in terms of ethics and if a CEO is overpaid. CEO’s can be compensated for their work by a salary, bonuses, and stock options. I believe that a CEO is overcompensated in the type of income they receive. It is unethical in many ways in that it affects consumers, employees, and stockholders alike. This paper will provide an enlightened view on CEO income and how much is too much. Ethically Compensated …show more content…

An ex-ample is the McKesson pharmaceutical company, which is located throughout the United States. It provides a vast number of medications throughout North America (McKesson Corporation, 2017). The CEO of McKesson, John Hammergren, receives an income of over $131 million (Forbes, 2017). If McKesson pharmaceutical company paid Mr. Hammergren only $31 million then undoubtedly lives could be saved by offsetting the high costs of medications. Mr. Hammergren is the highest ranking executive and has the responsibility of making im-pactful decisions that have a long lasting impact to the company and consumers. It would be reasonable that he earns the most due to his vast responsibilities and duties. However, due to his influence to his company, I believe his income should be a direct correlation to company

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1. I feel the typical bend of the circulation of riches ought to be similar to what the video said individuals surveyed ought to be. I feel these individuals who have these challenging tasks should get a great deal of pay. Maybe the facts may confirm that they are not working harder than the representatives under them, in any case, they likely worked a considerable measure harder to get to where they are. I feel just as salary increments exponentially when one 's position or level of notoriety increments.

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Annotated Bibliography Yu Hu 胡宇 1. Banayan, Alex. “ How Andrew Carnegie Got Really Rich.” Executive Leadership 30 no. 11 (2015): 1-3.

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Lori Chordas claims in her viewpoint that the production of generic versions of prescription drugs cuts the price of medication notably. Brand names can cost from thirty to eighty percent more than generic versions of the same medication. More Americans are recognizing the savings associated with buying generic brands instead of brand name. Generic drugs made up sixty five percent of prescription drugs distributed in 200 according to IMS Health.

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The desert view is that the CEO gets what he deserves as evaluated by his performance (Moriarty 267). The third potential view is the utility view and it defines a just wage as one that is give en attract, retain, and especially motivate the CEO so they may maximize the firm’s wealth (Moriarty 268). If any of these views are valid, then he claims it follows that CEOs are paid too much (Moriarty 272). Although Moriarty does make some valid points, I do not agree with all that he states.

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Nick 's income relative to the other characters displays his similarities to the average person aswell. He makes enough to live and hang out with his friends throughout our view into his life, however, when compared to the rich, he has very little.

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Merck has a few weaknesses to consider such as the various controversies they have had in the past. One example is the product of VIOXX, which had risks of heart attacks and strokes and several people were injured and died using the drug. There has also been limited reports of confidence to the investors of the firm. The liquidity of the company is also low and expenses on research are very high. This makes it a key concern when developing the product because there will be a large amount of research involved in developing SafePet.

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Every citizen in the United States has individual rights protected by the Constitution. This protection also includes businesses that have gone through the legal process to become a legal entity ; more commonly known as becoming a corporation. Many times these individual rights, protected by the Constitution, conflict with the common good and as history shows, the courts consistently side with the common good when faced with a case that pits these two against each other. Big Pharma are corporations exercising their individual rights to market, and sell their product to consumers. In the process, the common good is suffering.

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Based on a video of Wealth Inequality in America, “ The richest (1 percent) is now (2012) taking up almost a quarter (24%) of the national income home; in 1976 they took home only 9%; meaning their share of income has tripled between 30 years.” *add where quote is from*“CEO’s of major corporations earn nearly 300 times more than an average worker.” How is it possible that a CEO earns multiple times more than a regular

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Nowadays it seems like legal drugs are more expensive than illegal ones. This dilemma occurs because the pharmaceutical industry affects the economy significantly. Although the United States is a mixed market economy, there are instances where the economy seems like a free market economy. A free market economy allows companies to determine the prices of goods free from government intervention. The pharmaceutical industry, despite several regulations set by the food and drug administration, is a free market economy.

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The person that runs are country doesn’t make as much, people who save lives don’t make as much, teachers don’t make as

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The wealthier one gets, it seems, the more one rationalizes their decisions and actions. The more one stains their morality little by little until they no longer need to choose what’s right and wrong but what benefits them. Whether it’s right or wrong is then irrelevant. From people to companies, wealth is the source of

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That is significantly different from how much a teacher filling the minds of the children makes. I believe that a person should be paid according to the jobs importance

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Jeff Bezos to date currently has a total net worth of over 105 billion dollars. Whilst the first 17 of the worlds richest billionaires goes to men, the number 18 spot is a women, Alice Walton. Some may argue she is only worth so much

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Porter’s five force model. Threat of New entrants (low): Although Walgreens and CVS are the giants in the retail pharmacy industry, there is a plenty of chances to small competitors. Entry into the brick-and-mortar prescription drug business is feasible even on a small scale.

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The amount of money that’s made depends mostly on the location of the job and the participants level of education. Other jobs like, forensic accountants, engineers, and attorneys have the highest paying salaries in the field of

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