(Essay; quality) Pharmeceutical companies Pfizer and Schering-Plough had quality problems at their prescription drug manufacturing plants. [See Scott Hensley, “Pfizer Is Warned by FDA to Fix Plant’s Manufacturing Problems,” The Wall StreetJournal (February 12, 2002), p. BIO; and Reuters, “Schering- Plough Inquiry Ends,” The New York Times (October 2, 2003).]

a. Find information on the Web about problems in the pharmaceutical industiy, including those of the above mentioned companies incurred by these companies. Be certain to review annual report footnote in¬ formation related to contingencies for the companies. Discuss your findings.

b. Compare Pfizer and Schering-Plough’s profits with those of other firms in the industry.

c. Discuss why a total quality management system would be more impor¬ tant in pharmaceutical companies than in most companies.

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