Price Inflation Investigations Highlight Importance Of CSR

BMI Core View: Corporate social responsibility (CSR) is an under-appreciated business activity in the pharmaceutical industry. Like all commercial entities, drugmakers are fully entitled to focus on the generation of profits and shareholder value. However, recent bad publicity, such as product recalls, inappropriate pricing in developing countries and dangerous production processes, means that pharmaceutical companies are increasingly accountable to employees, governments, the environment and, most importantly, patients. Firms that do not embrace CSR will lose investors and underperform compared with their rivals.

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