According to one report, in 2018, the World Health Organization estimated the global pharmaceutical market to be worth $1.4 trillion, indicating the substantial economic power that this industry has to influence policymaking and regulation at both global and national levels.
According to a news report, Asian Hospital and Medical Center and other hospitals under Metro Pacific Health issued an email to their staff members to remind them of absolute compliance with anti-bribery and anti-corruption laws, together with disclosure regarding conflicts of interest. Then there is the Physician Self-Referral Law, commonly referred to as the Stark law, which prohibits physicians from referring patients to receive designated health services payable by Medicare or Medicaid from entities with which the physician or an immediate family member has a financial relationship. This includes both ownership/investment interests and compensation arrangements.
This means putting profit above the welfare of patients, and this will do more harm than good to our society. The pursuit of profit should not come at the cost of exploiting patients. And what about the practice among medical representatives of bribing doctors with foreign trips and conferences? In some countries, this practice of visiting doctors in public hospitals to talk about their drugs or medicines is frowned upon and considered a waste of public time and resources.
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