Psychiatrists and pharmaceutical industry have a shared interest in advancing medical knowledge. Nonetheless, they also create opportunities for conflict of interests. The primary interest of the psychiatrist is to promote the patient’s best interests, while the primary interest of industry is to promote profitability. This paper explores the content of ethical documents most relevant to the biomedical researcher and guidelines related to the ethics of sponsored research. Subsequently, it discusses the ethical quandaries involved and offers solutions for ethical business relationships
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