Manufacturing drugs- The necessity of disclosing information on drug packages
In the drug manufacturing industry, biotechnology companies are supposed to engage in research and applications while developing new drugs. FDA also proposed that certain kinds of information should be publicly disposed and people possess the right to know what they are consuming. It comes under public health policy as well. In matters of health, there is added responsibility for the drug manufacturing industry because approximately 97 billion is invested in the US biotechnology sector.
The need for disclosing information to the public
As a drug maker, it is essential to gain the approval of the FDA because newly prepared drugs that might have side effects need to meet the legal requirements. As observed in the case of fertility drugs such as Serophene and Pergonal, previous approval was not taken, and later medical researchers of Stanford University found the risk of ovarian cancer associated with the usage of such drugs. By that time, a lot of women would have consumed Serophene and Pergonal and became a victim without any knowledge or awareness.
Therefore, it becomes the duty of drug manufacturers to disclose clinical trial data that could possibly harm the consumers. It should be noted that the Stanford University study is at a preliminary stage. Nevertheless, further risk cannot be taken. As per medical ethics, drug manufacturers should comply with the ethical and legal standards (Gilhooley, 1993). It would be safe for both the manufacturer as well as the public. Verification of the benefits and side effects of the drugs is a necessity because it can improve the health conditions of the people, which is the sole purpose of the health industry. The federal agencies in the US should have access to all health-related information, and drug manufacturers need to meet the reporting requirements on time.
Benefits for the industry
One of the significant advantages of disclosing information voluntarily is to achieve transparency. It would be beneficial for the pharmaceutical industry. In the US, the elected presidents every time encouraged the Open Government and Transparency initiative (Gilhooley, 1985). Notably, in the healthcare sector, transparency is the foundation of practice. Transparency plays a critical role in advancing global health as well. It can save further manufacturing costs of harmful drugs. The industry can also ensure less wastage of resources and funds of the government. This, in turn, would protect the lives of the patients and the research participants required for conducting clinical trials of drugs.
Again, doctors prescribe medicines based on the information disclosed by drug manufacturers publicly (Ollila & Hemminki, 1996). In case the information is biased or unreliable, doctors can become suspects. People trust the pharmaceutical industry because it claims to produce evidence-based drugs. Hence, they rely on prescriptions that claim the authenticity of vaccines, medicines, and devices. Thus, they have the right to protect their health as well. In recent times, health conditions and diseases are worsening, and drug manufacturers need to use the results of previous research and trials rather than hiding the information for personal gains.