Chapter 10: Corporate social responsibility in the pharmaceutical industry
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The pharmaceutical industry has evolved from one that was initially profitable and perceived to be doing well financially to one that has increasingly suffered erosion in public perception in terms of its corporate social responsibility (CSR) performance. Reactions by industry players to various external factors resulting from changing social and economic realities have led the industry’s critics to view the business as one that sacrifices CSR at the expense of profit. We suggest the CSR challenges launched against the industry be viewed in an alternative light by summing up the various disconnects existing in current views. We conclude with an assessment of where the industry stands today in terms of what they have achieved thus far in the various aspects of CSR that are the theme of this book and how it should move forward, as well as recommendations on areas that would warrant further study in order to usefully guide pharmaceutical companies on continuing on their CSR journey.

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