Some individuals argue that in other to help the impoverished countries, pharmaceutical companies should be responsible for the finances used in research of drugs while others believe that the primary role of drug companies is to generate funds. Although the latter opinion would help in the economic growth of a country, I am of the opinion that funding of research by pharmaceutical firms would help reduce the incidence of diseases.
On the one hand, drug companies should be solely for the generation of funds because it would help in the economic growth of a nation. In other words, the funds generated from these companies would be remitted to the government in form of tax, job creation and so on and these would contribute to increasing the Gross Domestic Product (GDP) of a nation leading to economic growth. In Nigeria, a considerable number of drug companies are established with the aim of making money and this has helped to boost the economy of the nation.
On the other hand, funding researches by pharmaceutical firms would help reduce the incidence of certain diseases in poor countries and I am in support of this view. Simply put, when funds are dedicated for research purposes, it would enable the drug companies to discover new treatments and medications which would lead to a rapid decline in diseases such as cancer, diabetes and so on. An excellent example is a research conducted by a pharmaceutical company called Novartis, in which they assisted in the discovery of targeted therapies against chronic diseases which has helped reduce disease prevalence in impoverished countries. Thus, funding by drug companies would help in the discovery of new treatment options thereby reducing the incidence of certain diseases.
In conclusion, while there are valid arguments on both sides, I believe that drug companies should be responsible for the finances used for research purposes because it would help in curbing some chronic illnesses.