Corporate social responsibility in pharmaceutical industry: integrating social responsibility with public health needs

Research Article
Mahalakshmi S
DOI: 
http://dx.doi.org/10.24327/ijrsr.20241512.0962
Subject: 
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KeyWords: 
Corporate Social Responsibility (CSR), Pharmaceutical Industry, Public Health, Healthcare Access, Sustainable Development, Social Responsibility Integration, Ethical Practices
Abstract: 

When it comes to public health in particular, the activities that are part of the Pharmaceutical Industry’s Corporate Social Responsibility (CSR) program are very important in terms of bringing business policies into alignment with the greater needs that society has. At a time when healthcare systems all over the globe are suffering with difficulties such as rising prices, restricted access to treatment, and the increasing frequency of chronic diseases, pharmaceutical companies are in a position that provides them with a unique opportunity to contribute to the improvement of society’s health. This research investigates how the pharmaceutical industry might enhance public health outcomes via the inclusion of social responsibility by addressing significant issues such as the availability of affordable healthcare, the promotion of wellness, and the preservation of the environment. When carried out effectively, corporate social responsibility (CSR) activities in the pharmaceutical sector have the potential to establish a connection between economic growth and social advancement. Contributions from businesses may be made in a variety of ways, including the provision of life-saving pharmaceuticals to underprivileged populations, the provision of financial support to public health programs, the investment in environmentally friendly production practices, and the sponsorship of research into neglected ailments. In addition, the research emphasizes that in order for corporate social responsibility (CSR) programs to address the most pressing concerns pertaining to public health, the operations of businesses need to be in harmony with both global and local health objectives. This article examines the existing corporate social responsibility (CSR) regulations, examines case studies from major pharmaceutical companies, and shines light on regulatory frameworks in order to demonstrate how CSR has the potential to be an effective tool for improving public health. This article stresses the need for transparency, accountability, and long-term impact in corporate social responsibility (CSR) initiatives by examining the ethical responsibilities of pharmaceutical businesses. It also emphasizes the need of striking a balance between the need to generate profits and the need to meet the health needs of underserved groups. Both the enhancement of the reputations of pharmaceutical companies and the contribution to the sustainable expansion of healthcare systems throughout the world may be accomplished via the combination of corporate social responsibility and public health issues. As a result of their commitment to social responsibility, pharmaceutical businesses have the ability to profoundly influence the results of global health and social welfare.