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Corporate Responsibility in der forschenden Arzneimittelindustrie / Corporate Responsibility in the Research-Based Pharmaceutical Industry

Author

Listed:
  • Suchanek Andreas

    () (Collegienstra├če 62, 06886 Lutherstadt Wittenberg, Germany)

  • Lin-Hi Nick

    () (Jahnallee 59, 04109 Leipzig, Germany)

Abstract

Corporate Responsibility is a crucial concept in the pharmaceutical industry, especially for research-based pharmaceutical companies. Companies are faced with a tension between fulfilling normative expectations of solidarity and making profits under the pressure of competition. We argue that the seemingly plausible strategy to realize corporate responsibility as corporate philanthropy is systematically misleading and, in the long run, undermining the legitimacy of the core business. Instead, pharmaceutical companies should demonstrate their corporate responsibility by investing in their licence to operate, that is, by preventing possible conflicts between profits and morals. This requires not only investments in governance structures but also the ability to communicate the legitimacy of making profits as well as their corporate integrity.

Suggested Citation

  • Suchanek Andreas & Lin-Hi Nick, 2007. "Corporate Responsibility in der forschenden Arzneimittelindustrie / Corporate Responsibility in the Research-Based Pharmaceutical Industry," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 227(5-6), pages 547-562, October.
  • Handle: RePEc:jns:jbstat:v:227:y:2007:i:5-6:p:547-562
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    References listed on IDEAS

    as
    1. Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
    2. Leisinger, Klaus M., 2005. "The Corporate Social Responsibility of the Pharmaceutical Industry: Idealism without Illusion and Realism without Resignation," Business Ethics Quarterly, Cambridge University Press, vol. 15(04), pages 577-594, October.
    3. Mike Adams, 1998. "An Analysis of Corporate Donations: United Kingdom Evidence," Journal of Management Studies, Wiley Blackwell, vol. 35(5), pages 641-654, September.
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