Pharmaceutical Executive Digest Europe - March 25, 2009 - (Page 6) Reputation, reputation, reputation Jacky Law asks what is more important, a good reputation with the public or a good reputation with the business community? A 1 NEWS 2 FROM THE EDITOR / NEWS 6 CRITICAL VISION 14 CALENDAR 8 BRUSSELS REPORT 10 CORPORATE RESPONSIBILITY 12 MANAGEMENT THEORY 13 NEWS 15 ON THE MOVE dieter Spears/Getty Images couple of years ago, the global consultancy PricewaterhouseCoopers (PwC) conducted a survey which showed that nearly eight out of ten consumers (78%) would take a drug company’s reputation into account when considering what drug to take if they were given a choice. In contrast, only one in three pharma executives thought reputation was a factor. Happily for the industry, patients are rarely, if ever, given that choice. Most haven’t a clue what company makes the drugs they are prescribed let alone it’s reputation. According to the UK’s Medicines Partnership, a significant number don’t even know what the drugs they take are for. However, that is beside the point of the research, which was to highlight the gap between how pharma executives and patients perceive the question of corporate reputation (presumably to bring in more work for PwC in helping companies change their public image). Indeed, Peter Claude, then a partner in the PwC Pharmaceutical and Life Sciences Advisory Services Group, made the case more concrete when he said research had also shown: “a 5% positive change in corporate reputation translates into a 3-5% positive change in market capitalisation.” Pharma executives are better placed than most to know how research can confound an issue, especially when linking something as fickle as reputation to company value and even more so when there are clearly many more obvious factors (patent expiry, few new drugs, and so on) working in that same downward direction. Apostles and rebels Nevertheless, new research about how the industry as a whole is perceived among prescribers in the US and Europe suggests they might have reason to be
Table of Contents Feed for the Digital Edition of Pharmaceutical Executive Digest Europe - March 25, 2009 Pharmaceutical Executive Digest Europe - March 25, 2009 From the Editor News Critical Vision Brussels Report Corporate Responsbility Management Theory Calendar On the Move Pharmaceutical Executive Digest Europe - March 25, 2009 Pharmaceutical Executive Digest Europe - March 25, 2009 - Pharmaceutical Executive Digest Europe - March 25, 2009 (Page 1) Pharmaceutical Executive Digest Europe - March 25, 2009 - From the Editor (Page 2) Pharmaceutical Executive Digest Europe - March 25, 2009 - News (Page 3) Pharmaceutical Executive Digest Europe - March 25, 2009 - News (Page 4) Pharmaceutical Executive Digest Europe - March 25, 2009 - News (Page 5) Pharmaceutical Executive Digest Europe - March 25, 2009 - Critical Vision (Page 6) Pharmaceutical Executive Digest Europe - March 25, 2009 - Critical Vision (Page 7) Pharmaceutical Executive Digest Europe - March 25, 2009 - Brussels Report (Page 8) Pharmaceutical Executive Digest Europe - March 25, 2009 - Brussels Report (Page 9) Pharmaceutical Executive Digest Europe - March 25, 2009 - Corporate Responsbility (Page 10) Pharmaceutical Executive Digest Europe - March 25, 2009 - Corporate Responsbility (Page 11) Pharmaceutical Executive Digest Europe - March 25, 2009 - Management Theory (Page 12) Pharmaceutical Executive Digest Europe - March 25, 2009 - Management Theory (Page 13) Pharmaceutical Executive Digest Europe - March 25, 2009 - Calendar (Page 14) Pharmaceutical Executive Digest Europe - March 25, 2009 - On the Move (Page 15)
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.