Political Correctness is hurting pharmaceutical companies

Discussion in 'Economics & Trade' started by kazenatsu, May 16, 2019.

  1. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Today India and Indian immigrants are becoming very prominent in the world of pharmaceuticals.
    However, what those outside of India most often don't realize is that Indian culture has very different ethical standards from those in other developed countries. In India, lying is practically seen as a necessity when conducting business.
    Of course integrity and ethics are of paramount importance in the field of pharmaceuticals. People's health is at stake, and there are complex studies that are done.

    Big Japanese and American companies have been ripped off by companies in India and high level Indian executives working in other American companies.

    People have a tendency to just automatically assume that all people are the same, especially in the era of political correctness where it becomes impossible to casually warn people about cultural dangers from a specific country.
    It carries a huge cost to these companies, and likely could make the difference between long-term survival and success of these companies.

    These Indians will often fake studies, blatently fake medical research or regulatory papers, to make as much money as they can.
    Corruption is just a normal way of life, and that's probably why countries like India remain in poverty.
    But now they can take advantage of unsuspecting companies in wealthier countries.

    In many ways the pharmaceutical industry is largely self-regulated, so it creates a big problem when there's widespread corruption.

    I think if these companies just assume "Everyone is the same" and don't stay on their guard against people from corrupt cultures, they're likely to go bankrupt.
     
    Last edited: May 16, 2019
    DennisTate likes this.
  2. DennisTate

    DennisTate Well-Known Member Past Donor

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    Interesting!!!!

    I will try to keep this tendency in mind for the future!
     

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