With all of the upheaval in the pharmaceutical industry right now, patients, doctors and consumers may have trouble knowing whether a certain drug or device is safe for them to use. Whether here in Ohio or somewhere else in the country, patients deserve to know as quickly as possible that something could be wrong with the medications or medical devices they need. Recent research shows that one factor could speed up medical product recalls — the gender of a company’s CEO.
Four universities here in the United States conducted research on this matter, and what they found may surprise some people. When a woman is the CEO of a pharmaceutical or medical device manufacturing company, recalls come more quickly when it is discovered that a medication or product could kill a patient or consumer. When it comes to less severe issues with medications or products, companies are given more discretion in when to issue recalls. Under these circumstances, a woman CEO will issue recalls more often than male counterparts will.
The data gathered in the study indicates that a company with women on its board will issue a recall in a life-threatening situation around 35% or 28 days faster from the time the problem is detected until the recall is issued. As for less severe, and thus easier to hide, issues, a company with a woman CEO or board member will issue a recall approximately 120% more than one with an all-male board. This may be one reason why California requires at least one woman on the board.
The faster patients, medical personnel and consumers have information regarding medical product recalls, the better the chances are that someone will not suffer adverse health consequences, including death. Therefore, according to the results of this study, every board of every pharmaceutical or medical device company ought to have at least one woman on its board. Until that happens, or until companies are held to a higher standard when it comes to accountability, Ohio residents could continue to suffer harm from these products may want to consider pursuing restitution for their damages.