A Study on Business Ethics with Special Reference to Marketing Practices: Selected Pharmaceutical Companies in India

Abstract

This study explores the ethical marketing practices in the Indian pharmaceutical industry, focusing on the challenges companies face and the solutions available for improving transparency and responsibility. Given the crucial role pharmaceutical companies play in public health, unethical marketing practices such as misleading advertisements, incentivizing prescriptions, and promoting off-label drug use are major concerns. The research identifies key ethical challenges, including the lack of regulatory enforcement, competition-driven pressure, and the influence of profit motives on marketing strategies. Using both qualitative and quantitative methods, the study investigates the current practices of selected Indian pharmaceutical companies, evaluating their compliance with established ethical guidelines such as the Uniform Code of Pharmaceutical Marketing Practices (UCPMP). Results show that while some companies adhere to ethical guidelines, others continue to engage in unethical promotional practices, with significant variations across firms. Based on these findings, the paper recommends strategies for enhancing ethical standards, including stronger regulatory oversight, better training for marketing personnel, and the promotion of ethical corporate cultures. The study contributes to understanding the ethical landscape of pharmaceutical marketing in India and offers practical solutions for fostering responsible business practices.