Mgt 672 Module 02 The Ethics Of Global Drug Pricing (100 Points)

MGT 672 Module 2 CT AssignmentAuthorDepartment, University Course code: Course title Instructor Due DateThe Ethics of Global Drug PricingThe high cost of drugs charged by pharmaceuticals affects many patients globally, including people covered by insurance who oftenpay a significant amount out of their pockets for medicines. According to the case study, while other countries try to cap the ever-rising price of treatment, this is not the case for the United States. As such, hospitals suffer from a lack of drugs, and patients are denied quality affordable care. The Global Drug Pricing's unethical practices can be evaluated using the six-step decision-making framework, namely, recognizing decision requirements,diagnosing and analyzing causes,developing alternatives,selecting the desired alternative, implementing options, and evaluating and feedback.1-Recognize decision requirementDifferential pricing is one of the ethical issues. It is a marketing strategy where the seller offers the product at different prices to different consumers. As such, it is also known as discriminatory or flexible pricing. The process is often considered unethical since similar products should be priced the same. The markets where the prices are set above the reasonable price, usually in the developed countries,