Table of ContentsArticle TopicRelationship to Business EthicsBusiness Ethics Theories MentionedReaction to Article ContentComment I would address the issue Article Topic This article is about pharmaceutical companies Stocks fell after Democratic presidential candidate Hillary Clinton tweeted her proposed plan to handle the problem of "price gouging" within the biotechnology industry. Biotechnology includes all pharmaceutical companies that make biological drugs or “specialty drugs” designed for patients with serious illnesses. These diseases include immune deficiencies, HIV and other infectious diseases, cholesterol problems, cancer, hepatitis C and other parasitic infections; all of which are extremely expensive to manage and help reduce the pain caused. The top 20 manufacturers of these particular pharmaceutical products all suffered heavy losses Monday following Clinton's tweet revealing her "price gouging" initiative. Clinton's outrage at these pharmaceutical companies was sparked by a sharp price hike by Turing Pharmaceuticals. The company took a pill, Daraprim, which helps patients with problematic immune systems, and raised the price from $13.50 to $750 (The Associated Press, 2015). This has caused an outburst of anger in the medical community, and as pharmaceutical stocks continue to fall, these companies are beginning to struggle as war threatens them. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay Some of these companies include Johnson & Johnson, Pfizer, Merck & Co., and Bristol-Myers Squibb. Each of these pharmaceutical companies and many others will face media attack and government intervention due to their price gouging over the years, which is illegal. According to New York State Attorney General Schneiderman, "New York State's price gouging law (General Business Law § 396-r) prohibits merchants from taking unfair advantage of consumers by selling goods or services at an “unacceptably excessive” price during an “abnormal disruption”. ", which would include Hurricane Sandy. The price gouging law covers sellers, retailers and suppliers in New York State, including, but not limited to, supermarkets, gas stations, hardware stores, bodegas, delis and taxi and livery drivers. it appears that each of these companies will have a million dollar lawsuit filed against them very soon because they are practicing an unethical method of doing business. These pharmaceutical giants have a corporate social responsibility to do what is in the best interest of all stakeholders. “Corporate social responsibility is about seriously considering the impact of your business on society; where the company is responsible for its workers, its consumers and society as a whole” (Palazzolo). The companies that participated in these price gouging did not respect this corporate social responsibility because they did not take into account the impact of its effects on their consumers and society. Regarding the four elements of ethics covered in class, these pharmaceutical companies have not really met their social expectations. They have been economical because they are extremely profitable by maximizing and minimizing sales, but mainly because of their illegal price gouging activities..