The Role of Multinational Pharmaceutical Companies in the Battle against COVID-19
Keywords:
Corporate Social Responsibility, multinational pharmaceutical enterprises, COVID-19 pandemic, vaccines
Abstract
This research aims to discuss how multinational pharmaceutical companies have responded to the challenges imposed by the COVID-19 pandemic, which would ideally be translated into supplying vaccines in a timely and efficient manner to fight against that emergency. The theoretical approach relies upon the concept of Corporate Social Responsibility (CSR), implying enterprises are supposed to achieve a balance of economic, social, and environmental deliverables while, at the same time, addressing the expectations of both shareholders and stakeholders. The method consists of scrutinizing secondary data—mainly figures of the vaccines provided by the different companies— and qualitative content analysis of the actions they state they have taken, which have been conveyed in press releases and annual reports. The findings show that major corporations have primarily considered the financial aspects of CSR, leaving out the social component they claim to address in their mission statements. Our critical position is that millions of lives could have been saved and relevant economic downturn avoided, particularly in low- and middle-income countries, had there been true practice and implementation of the CSR principles on the pharmaceutical company part.
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References
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52. Sung, M., Huang, Y., Duan, Y., Liu, F., Jin, Y., & Zheng, Z. (2021). Pharmaceutical Industry’s Engagement in the Global Equitable Distribution of COVID-19 Vaccines: Corporate Social Responsibility of EUL Vaccine Developers. Vaccines, 9(10), 1183.
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3. Aydın, K., Özer, E. and Köse, E. (2021). We are analyzing attitude towards COVID-19 vaccine in the context of the health industry: The role of country image. Düzce Tıp Fakültesi Dergisi, 23, 122-130.
4. Ataçay, M. N. (2022). Türk Toplumunun Çin Covid-19 Aşısına Olumsuz Tepkisini Açıklamak: Türkiye-Çin İlişkilerinin Rolü. Avrasya Uluslararası Araştırmalar Dergisi, 10 (30), 35-54.
5. Azap, A. (2020). COVID-19 Aşıları: Tünelin Ucundaki Işık. Arşiv Kaynak Tarama Dergisi, 29, (Özel Sayı 1)
6. BBC News Mundo (2020). Coronavirus: Argentina confirma su primer caso de Covid-19.
https://wwWBbc.com/mundo/noticias-america-latina-51728654
7. Beteta, H. (2020). ¿Cómo encontró la pandemia del Covid-19 a América Latina? Journal of Economic Literature, 17(51), 180-193.
8. Binagwaho, A., Mathewos, K. & Davis, S. (2021). Time for the ethical management of Covid-19 vaccines. The Lancet Global Health 9,(8), 1169-1171.
9. Blank, D. M. P., & Brauner, M. C. C. (2009). Medicalização da saúde: biomercado, justiça e responsabilidade social. JURIS, 14: 7-24
10. Blowfield, M., & Frynas, J. G. (2005). Setting New Agendas: Critical Perspectives on Corporate Social Responsibility in the Developing World. International Affairs (Royal Institute of International Affairs), 81(3), 499–513.
11. Boeger, N., Murray, R., & Villiers, C. (2008). Perspectives on corporate social responsibility. Cheltenham, Glos, UK: Edward Elgar
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16. Dahlsrud, A. (2008). How corporate social responsibility is defined: an analysis of 37 definitions. Corporate social responsibility and environmental management, 15(1), 1-13.
17. Daniyal, S., 2020. Coronavirus: Why is Pakistan doing so much better than India? [online] Scroll.in.
https://scroll.in/article/972694/coronavirus-why-is-pakistan-doing-so-much-better-than-india.
18. Dawn, 2021 Pakistan to import Chinese Cansino vaccine in bulk to packaging 3m doses locally: Asad Umar,
https://www.dawn.com/news/1615482
19. Demir, M., & Min, M. (2019). Consistencies and discrepancies in corporate social responsibility reporting in the pharmaceutical industry. Sustainability Accounting, Management and Policy Journal.
20. Elgin, C., Galvani, A. and Kamilçelebi, H. (2021). Country-of-origin bias towards COVID-19 vaccination: Evidence from Turkey. OSF Preprints. https://bit.ly/2VOMZAv
21. Euronews (2021). (https://tr.euronews.com/2021/09/29/turkiye-de-sputnik-light-as-s-n-n-acil-kullan-m-onay-icin-sagl-k-bakanl-g-na-basvuru-yap-l
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24. Forman, R. et al. (2021). Covid-19 vaccine challenges: What have we learned so far, and what remains to be done?
https://doi.org/10.1016/j.healthpol.2021.03.013
25. Fundación de Investigaciones Económicas Latinoamericanas (2021). El rechazo a Pfizer causo treinta mil muertes adicionales en Argentina. https://alerta140.com/segun-un-estudio-de-fiel-el-rechazo-a-pfizer-causo-30-mil-muertes-adicionales-en-argentina/
26. García-Sánchez, I. M., & García-Sánchez, A. (2020). Corporate social responsibility during COVID-19 pandemic. Journal of Open Innovation: Technology, Market, and Complexity, 6(4), 126.
27. Giannakaki, M. S. (2005). Using Mixed-Methods to Examine Teachers' Attitudes to Educational Change: The case of the Skills for Life Strategy for Improving Adult Literacy and Numeracy Skills in England. Educational Research and Evaluation, 11(4), pp. 323- 348.
28. Greene, J. C., Caracelli, V. J., and Graham, W. F. (1989). Toward a conceptual framework for mixed-method evaluation designs. Educational Evaluation and Policy Analysis, 11(3), pp. 255- 274.
29. Greene, J. C. (2005). The generative potential of mixed methods inquiry. International Journal of Research & Method in Education, 28(2), pp. 207- 211.
30. Guerin, O. (2021). Covid-19 pandemic: 'Everything you should not do, Brazil has done.’ BBC News, 9 July 2021. Available at https://wwWBbc.com/news/world-latin-america-57733540. Retrieved on April 16, 2022.
31. Hood, N. & Young, S. (1979). The Economics of the Multinational Enterprise. London: Longman.
32. Johnson & Johnson (2022). Our Credo. https://www.jnj.com/credo
33. Koshi, H., Ashrafi, M., Abbasi, E., & Gorganli Davaji, J. (2022). The protective role of corporate social responsibility performance during the coronavirus pandemic disease: Performance evaluation using a mathematical model of the directional distance function. International Journal of Nonlinear Analysis and Applications.
34. Larrosa, J. (2020). SARS-CoV-2 in Argentina: Lockdown, mobility, and contagion. https://doi.org/10.1002/jmv.26659
35. LaVan, H., Cook, L. S., & Zilic, I. (2021). An analysis of the ethical frameworks and financial outcomes of corporate social responsibility and business press reporting of U.S. pharmaceutical companies. International Journal of Business Governance and Ethics, 15(3), 326-355.
36. Leech, N. L. and Onwuegbuzie, A. J. (2009). A typology of mixed methods research designs. Qual Quant. 43, pp. 265–275.
37. Leisinger, K. M. (2005). The corporate social responsibility of the pharmaceutical industry: idealism without illusion and realism without resignation. Business Ethics Quarterly, 15(4), 577-594.
38. Leite, J., Rosati, A., & Iglesias, SP (2021). Brazil let 70 million shots get away and sealed its covid fate. Bloomberg. Available at: https://wwWBloomberg.com/news/articles/2021-05-28/brazil-let-70-million-shots-get-away-and-sealed-its-covid-fate. Retrieved on April 16, 2022.
39. Martinez-Palomo, A. (2009). Social responsibility and health. The UNESCO universal declaration on bioethics and human rights: Background, principles and application, 219-230.
40. Menezes, H. (2021). The TRIPS waiver proposal: An urgent measure to expand access to the COVID-19 vaccines.
https://www.econstor.eu/handle/10419/248628
41. Ministry of Health, (2020a). Available at: https://covid19bilgi.saglik.gov.tr/tr/covid-19-yeni-koronavirus- hastaliginedir (accessed 28.03.2022)
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43. Nussbaum, A. S. K. (2009). Ethical corporate social responsibility (CSR) and the pharmaceutical industry: A happy couple. Journal of Medical Marketing, 9(1), 67-76.
44. Our World in Data. Coronavirus (COVID-19) Vaccinations. https://ourworldindata.org/covid-vaccinations
45. Özdemir Akcan, E. ve Sütütemiz, N. (2022). "Analysis of Brand Perceptions of Covid-19 Vaccines By Sentiment Analysis on Social Media", Pamukkale University Journal of Social Sciences Institute, 49, Denizli, ss. 145-162.
46. Pfizer (2022). Environmental, Social & Governance Report 2021. Available at https://www.pfizer.com/sites/default/files/investors/financial_reports/annual_reports/2021/files/Pfizer_ESG_Report.pdf.
47. Pfizer Turkey (2022). https://www.pfizer.com.tr/pfizer-t%C3%BCrkiye-bilim-ila%C3%A7-ve-nakdi-kaynaklar%C4%B1yla-covid-19-ile-m%C3%BCcadeleye-tam-destek-veriyor
48. Siddiqui, A., Ahmed, A., Tanveer, M., Saqlain, M., Kow, C. S., & Hasan, S. S. (2021). An overview of procurement, pricing, and uptake of COVID-19 vaccines in Pakistan. Vaccine, 39(37), 5251–5253. https://doi.org/10.1016/j.vaccine.2021.07.072
49. Siddique, S., & Ahmed, S. (2021). COVID-19 Vaccines in Pakistan: Efficacy, Adverse Effects, and Availability. Journal of Islamabad Medical & Dental College, 10(2), 125–130.
https://doi.org/10.35787/jimdc.v10i2.723
50. Sinovac (2021). First Half of 2021 Financial Results. Available at http://www.sinovac.com/news/shownews.php?id=1367&lang=en..
51. Stocker, K., Waitzkin H. & Iriart, C. (1999) The Exportation of Managed Care to Latin America. New England Journal of Medicine,340.1131–36.
52. Sung, M., Huang, Y., Duan, Y., Liu, F., Jin, Y., & Zheng, Z. (2021). Pharmaceutical Industry’s Engagement in the Global Equitable Distribution of COVID-19 Vaccines: Corporate Social Responsibility of EUL Vaccine Developers. Vaccines, 9(10), 1183.
53. The Economist (2021). What does Brazil’s vaccine scandal mean for Jair Bolsonaro? Available at: https://www.economist.com/the-economist-explains/2021/07/07/what-does-brazils-vaccine-scandal-mean-for-jair-bolsonaro.
54. The News (2021) U.S. donates over 50m COVID-19 vaccines to Pakistan.. https://www.thenews.com.pk/print/932164-us-donates-over-50m-covid-19-vaccines-to-pakistan
55. Turshen, M.(1999) Privatizing Health Services in Africa. New Brunswick, NJ: Rutgers University Press.
56. United Nations Industrial Development Organization. What is CSR? https://www.unido/org/our-focus/advancing-economic- competitiveness/competitive-trade-capacities-and-corporate-responsibility/corporate-social-responsibility-market-integration/what-csr#::text=Corporate%20social%responsi...%20What%20is%20CSR3F%20What%20is their%20business%20operations%20and20%interactions%20with%20their%20stakeholders.
57. World Bank Organization (2021). Debt Transparency in Developing Economies. https://www.worldbank.org/en/topic/debt/publication/report-debt-transparency-in-developing-countries
58. World Business Council for Sustainable Development (2000) Corporate Social Responsibility: making good business sense. Geneva, WBCSD. http://www.ceads.org.ar/downloads/Making%20good%20business%20sense.pdf. Retrieved on April 4, 2022.Clancy, T., Stiner, C., & Koltz, T. (2002). Shadow Warriors: Inside the special forces. New York, NY: Putnam
59. World Health Organization. Access to COVID-19 Tools (ACT) Accelerator. https://www.who.int/publications/m/item/access-to-covid-19-tools-(act)-accelerator
60. World Trade Organization. New USD 50 Billion health, trade, and finance roadmap to end the pandemic and secure a global recovery. https://www.wto.org/english/news_e/news21_e/igo_01june21_e.htm
Published
2022-09-30
How to Cite
Baykara, S. T., Furfaro, R., Rajput, M. A., & Fernando, J. T. (2022). The Role of Multinational Pharmaceutical Companies in the Battle against COVID-19. European Scientific Journal, ESJ, 18(28), 35. https://doi.org/10.19044/esj.2022.v18n28p35
Section
ESJ Social Sciences
Copyright (c) 2022 Sıla Turac Baykara, Ricardo Furfaro, Muhammad Arif Rajput, Jorge Tenorio Fernando
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
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