I think the responsibility depends on what went wrong. If the doctors and scientists followed the approved protocol, got proper informed consent, and the patient knew the risks, then it’s not really o...

I would not put anything out on the market until I have more information regarding the testing and the pill. If the pill was really a placebo, it shouldn’t have done better than the placebo group, so ...

This question is actually a good point. Clinical trials should be accurate, and the placebo effect can make that harder. If the placebo group shows the same results as the group getting the real drug,...

Using color for marketing is interesting because different colors represent different meanings. For example, the color green can represent health, wealth, and nature. Nature’s Bounty, a supplement and...

With the advancement of technology, the way companies market has tremendously changed. Instead of using media like TV or magazines, marketing now uses a lot of digital tools to attract customers. It i...

When it comes to sales, especially in the medical device industry, the main thing is building long lasting relationships. To be a successful sales rep, you must know your product as being in a clinica...

Yes, a company can invest its retained earnings in the stock market. It would open a brokerage account in the business's name using its EIN, so the investments belong to the company, not the owner. La...

If I were to open my own business, I would lean more towards a sole proprietorship rather than a partnership. Since I would be working as a freelancer on the side with my styling license, I don't need...

A sole proprietorship is a business where one person owns everything, and it's tied to their personal finances. Because of that, if the business becomes successful and the owner wants to pass it on to...

I think regulations can definitely be a barrier to improving product quality. When it comes to the FDA, there are huge amounts of paperwork and processes needed to approve an improved product. Because...

This is an interesting way to think about quality control and innovation. When it comes to medical devices, patient safety has to come first, but I don't think that means innovation has to suffer. I d...

I think that even though companies know the risks that come with not following the rules, problems still happen within the companies themselves. This can come from poor management, pressure to meet de...

I agree that the user fee system raises real concerns about bias. Even though the fees are set by Congress and paid whether or not a drug is approved, relying on industry for so much funding can still...

During FDA inspections, the consequences depend on how serious the problem is. Serious issues can lead to warning letters, recalls, delayed approval of new products, or even fines and legal action. Fo...

During FDA inspections, the consequences depend on how serious the problem is. Serious issues can lead to warning letters, recalls, delayed approval of new products, or even fines and legal action. Fo...