REVIEW OF LITERATURE ON BUSINESS ETHICS PRACTICES IN PHARMACEUTICAL COMPANIES IN INDIA

Abstract

Ethics is the practice of philosophy. It is the branch of philosophy concerned with determining what is good or evil, right or wrong. Ethics is the topic of everyday life, which is regulated by whether something is good or bad and based on the ideas of morality, welfare, Rights & duties, justice, equality, liberty, and virtue. Ethics, economics, and law are so interdependent that it might be difficult to choose which should be cherished the most. Ethics include not just why something is done, but also how it is done and who did it. Topical concerns include corporate Social Responsibility and Corporate Governance. The findings of the research will provide practitioners and policymakers with assistance in educating themselves about issues that have an immediate need to be resolved, and it will shed some light on issues that should be prioritized in order to concentrate on and design strategies for effectively gaining a competitive edge. The pharmaceutical business is significantly reliant on Research & Development for the development of new products and its expansion. Nonetheless, fundamental research (discovering new compounds) is a time-consuming and costly endeavor, and is thus dominated by giant multinational corporations.