Pharmaceutical Executive Europe - June 2008 - (Page 25) Pharmaceutical Executive Europe June 2008 Last Word 25 Reputation, reputation, reputation Kunal Mehta looks at the results of a recent Thames Valley University study assessing the current state of pharma’s reputation and what can be done to improve it. t seems extraordinary that one of the world’s most prevalent industries — pharmaceuticals — should for so long have prospered with little help from a good reputation. The pharmaceutical industry is a powerful benefit to economy that significantly reduces health costs by lowering the need for extended care. Further, developments in pharmaceutical science have substantially reduced mortality and morbidity rates throughout the world. Recently, a number of publications and TV documentaries have suggested that the industry’s reputation is in tatters and that its reputation is at an all time low.1 Worryingly, these reports offer scarce evidence for such claims and propose little advice on what curative steps to take next. My research,2 which surveyed over 2500 pharmacy customers and 300 pharma staff, shows that these reports seriously harm both patient welfare and pharma employee morale. To address such industry matters, Thames Valley University hosts an annual pharmaceutical responsibility and reputation conference to debate where the industry’s reputation is, and where it is not failing. At this year’s event, pharma heads from Proctor & Gamble, Johnson & Johnson, and the Association of the British Pharmaceutical Industry indicated that, while things are not that terrible, the reputation of the pharma industry is certainly not where it should be. Consultants from Ipsos MORI maintained that the industry’s reputation is sustained, and not as bad as the industry itself might believe. They went on to show that it is actually improving with the British public and with UK members of parliament (MPs). Indeed, my research with pharmacy customers in England shows that there is a growing, positive perception of the industry. Sixty-three per cent of I pharmacy customers (n=1575) said that they held a better understanding of pharmaceuticals and healthcare industries. Over 93% (n=279) of the employees interviewed3 believed that by holding negative perceptions about the pharma industry, they would be more likely to misplace morale and drive. This would be all the more unfortunate if such views were based on misrepresentations. It is therefore important to restore employee misconceptions through inhouse training and place extra focus on sharing responsibility and sustainability reports. Admittedly public confidence has been reduced in recent years but it is by no means restricted or even meaningfully applicable to the pharma industry. Over 97% (n=2433) of the public sample studied associated the now-defunct energy company Enron and the British Government with corrupt organisations. The pharma industry was not mentioned, despite the questionnaire drawing attention to it. The findings also indicated that pharma needs to be more aware of factors outside of its control. For instance, 95% (n=2343) of respondents said negative publications or TV documentaries would heavily impact their perception of a pharma company and its products. Additionally, over half of the public sample interviewed (n=1303) stated that criminal activities, such as counterfeit medicines and product tampering, would negatively influence their perceptions of a pharma company and deter use of that company’s products. This indirect reputation damage has strong implications for pharma companies falling victim to external criminal activities beyond their immediate control. Furthermore, over a 75% (n=1883) of pharmacy customers felt that pharma companies that fell victim to crime had weak and failing security operations in place. Lisa Zador/Getty Images http://www.tvu.ac.uk/pharma
Table of Contents Feed for the Digital Edition of Pharmaceutical Executive Europe - June 2008 Pharmaceutical Executive Europe - June 2008 Contents From the Editor News and Analysis Calendar Brussels Report - Tell Us Something We Didn’t Know BioFutures - Friends, Acquaintances and Strangers IT Matters - The High Cost of Swimming Upstream Strategy Fundamentals - Hidden in Books Corporate Strategy - New Dimensions for New Business Models Special Report: Making the Leap Sales Force Incentives - The Goal: Setting Goals Last Word Pharmaceutical Executive Europe - June 2008 Pharmaceutical Executive Europe - June 2008 - Pharmaceutical Executive Europe - June 2008 (Page Cover1) Pharmaceutical Executive Europe - June 2008 - Pharmaceutical Executive Europe - June 2008 (Page Cover2) Pharmaceutical Executive Europe - June 2008 - Contents (Page 3) Pharmaceutical Executive Europe - June 2008 - From the Editor (Page 4) Pharmaceutical Executive Europe - June 2008 - From the Editor (Page 5) Pharmaceutical Executive Europe - June 2008 - News and Analysis (Page 6) Pharmaceutical Executive Europe - June 2008 - News and Analysis (Page 7) Pharmaceutical Executive Europe - June 2008 - Calendar (Page 8) Pharmaceutical Executive Europe - June 2008 - Brussels Report - Tell Us Something We Didn’t Know (Page 9) Pharmaceutical Executive Europe - June 2008 - BioFutures - Friends, Acquaintances and Strangers (Page 10) Pharmaceutical Executive Europe - June 2008 - IT Matters - The High Cost of Swimming Upstream (Page 11) Pharmaceutical Executive Europe - June 2008 - IT Matters - The High Cost of Swimming Upstream (Page 12) Pharmaceutical Executive Europe - June 2008 - Strategy Fundamentals - Hidden in Books (Page 13) Pharmaceutical Executive Europe - June 2008 - Corporate Strategy - New Dimensions for New Business Models (Page 14) Pharmaceutical Executive Europe - June 2008 - Corporate Strategy - New Dimensions for New Business Models (Page 15) Pharmaceutical Executive Europe - June 2008 - Corporate Strategy - New Dimensions for New Business Models (Page 16) Pharmaceutical Executive Europe - June 2008 - Corporate Strategy - New Dimensions for New Business Models (Page 17) Pharmaceutical Executive Europe - June 2008 - Special Report: Making the Leap (Page 18) Pharmaceutical Executive Europe - June 2008 - Special Report: Making the Leap (Page 19) Pharmaceutical Executive Europe - June 2008 - Special Report: Making the Leap (Page 20) Pharmaceutical Executive Europe - June 2008 - Special Report: Making the Leap (Page 21) Pharmaceutical Executive Europe - June 2008 - Sales Force Incentives - The Goal: Setting Goals (Page 22) Pharmaceutical Executive Europe - June 2008 - Sales Force Incentives - The Goal: Setting Goals (Page 23) Pharmaceutical Executive Europe - June 2008 - Sales Force Incentives - The Goal: Setting Goals (Page 24) Pharmaceutical Executive Europe - June 2008 - Last Word (Page 25) Pharmaceutical Executive Europe - June 2008 - Last Word (Page 26) Pharmaceutical Executive Europe - June 2008 - Last Word (Page 27)
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