Explain Why a Code of Ethics Is Important for the Field

question 29

Essay

Explain why a code of ethics is important for the field of pharmacy. List four principals that a pharmacy code of ethics should include.

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Definitions:

Exclusive Government Contract

A legal agreement where a government grants only one company the right to provide goods or services, prohibiting competitors.

Acquire Patents

Process of obtaining legal rights to inventions or designs, ensuring exclusive use to the holder.

Cost-Reduction

Strategies or actions taken to lower expenses and improve efficiency in production or operations.

Long-Run Profitability

A measure of a company's ability to maintain earnings at a certain level over the length of time necessary to cover all costs, including variable and fixed costs.