Pharma’s Rise in Reputation
It has been a long time coming but in the annual corporate reputation survey by PatientView among more than 1,000 patient groups in 72 countries, 45% reported that pharma had a Good or Excellent reputation in 2015, up from 39% the year before. That is the highest level since the survey began in 2011. To lend even greater support to that finding, nearly 3 in 10 (28%) patient groups said they expect the pharma industry to improve over the next 12 months. This is good news for a beleaguered industry. The bump in perception comes from patient group’s view that the industry is delivering greater value in its delivery of high quality products and services.
However, the pharma industry still has its work cut out for itself. Patient groups did not give high ratings for the industry’s fair pricing policies and nearly 1 in 2 said they were poor at this.
The countries in which patient groups were the least happy were in Australia, France, Germany, the Netherlands, the UK and the US.
How do pharma companies build positive perceptions? According to the survey, developing new products helps build high regard as well as how they manage drugs when they go off patent and demonstrate concern for patients at that time. Other factors that hurt reputation in this industry are mergers and acquisitions, bribery/corruption, and lack of transparency.