Exposing the GSK Fiasco
Amani Rouse
Co-Presenters: Karla Morales, Peter Nazzaro, Nataliya Negron, Michelle Mejias, Matthew Pecora
College: College of Business and Public Management
Major: Accounting
Faculty Research Mentor: Dawn Adams-Harmon
Abstract:
Our research will be highlighting immoral, illegal, and unethical practices from corporations, with a focus on GlaxoSmithKline, GSK, a pharmaceutical and biotechnology company. We studied how company wrongdoings in the pharmaceutical industry can affect public health as well as consumer trust. A key case in our research is the lawsuit over the popular heartburn drug, Zantac. In order to solve the allegations that the drug caused cancer, GSK consented to pay $2.2 billion to resolve almost 80,000 cases in US courts. These settlements, which accounted for 93% of the cases, were handled by ten separate legal firms representing claimants who were affected.Our study highlights the ethical responsibilities of pharmaceutical companies, the consequences of corporate negligence, and the regulatory shortcomings that allow these issues to continue to exist. Through an examination of this court case, corporate regulations, and ethical standards, we want to shed light on the effects of these activities and provide options for possible changes to improve GSK's corporate responsibility.