You are the chief executive of a company that manufactures several patented medications includ-ing insulin and several types of HIV/AIDS medications. It is currently September 2022 and be-cause of intlion, many Americans have had to ration or forgo medications like the type your company produces in order to afford basic necessities.
All the medications your company manufactures are researched and developed using cutting edge technology. These medications are widely considered effective and safe. The cost of your insulin medication is over $900 per person per month. Your company has recently increased the price of HIV/AIDS medication because of a new patent based on a minor update to the product formula.
You have been subpoenaed by the U.S. senate to testify about your company’s prescription drug pricing. You have consulted with your company’s Chief Research and Development Officer, who informs you about the cutting-edge technology used in developing the patented medications. You have consulted with your Media Relations Officer who informs you about the sustained negative press and social media coverage of your company’s prescription pricing. You have also consulted with your Chief Federal Lobbyist who has advocated for your company’s current interests for the last 2 decades and is an advocate for maintaining the status quo.
Using one of the following ethical frameworks – corporate social responsibility, duty-based ethics, or outcome-based ethics – draft a summary of your proposed testimony to the U.S. senate. Be sure to state what type of intellectual property your company’s products hold and why. Use the ethical framework to guide whether you will advocate for defending the current pricing, announce possi-ble changes, or choose another outcome.