PricewaterhouseCoopers Study Reveals Startling Disconnect Between Pharma Executive & Consumer Perceptions Of The Industry
A new study released today by PricewaterhouseCoopers (PWC) reveals that there are “significant differences between the public’s view of pharmaceutical companies and the industry’s self perception.†PWC concludes that this disconnect is “causing the industry’s messages about its value to society to fail in the court of public opinion.â€
Following are some of the most startling results of this survey (from PWC’s press release):
-Consumers are split between believing that pharmaceutical companies consider important unmet medical needs when deciding to develop a new drug (55 percent) instead of choosing to develop “me-too” and “lifestyle” drugs with the greatest sales potential (45 percent). This compares to 71 percent of industry stakeholders and 91 percent of pharmaceutical executives, respectively, who say health needs are a top priority for pharmaceutical companies.
-94 percent of consumers and 81 percent of industry stakeholders said that drug companies are too aggressive in promoting unapproved uses of their product. Fewer than half (47 percent) of pharmaceutical company executives agreed.
-62 percent of stakeholders agreed that drug companies often manipulate or suppress negative clinical trial results to maximize sales. Four out of five pharmaceutical executives disagreed.
Analysis
To me, this study suggests the following:
-The constant drumbeat of negative media coverage of pharmaceutical companies re: clinical trial results, off-label marketing and other issues is clearly having an impact.
-Pharmaceutical company executives are well-meaning and believe their firms are operating ethically, but the public is very suspicious of their activities.
-There is a clear communications breakdown between the pharmaceutical industry and the public that will have a real impact on sales. Consider this PWC finding: “[C]onsumers place more value on a pharmaceutical company’s reputation when deciding whether to use a given pharmaceutical product than pharmaceutical executives believed. Nearly eight of every 10 consumers (78 percent) said that when given a choice, they will consider a drug company’s reputation when choosing which product to take. Only one out of three pharmaceutical executives, however, thought reputation was a factor.”
Clearly given the industry’s recent charm offensive, it recognizes it has a serious image problem and is taking steps to solve it. However, much more can be done. See this article from my firm’s newsletter Envisioning for advice from industry insiders and communications pros on how drug firms should proceed.
January 11th, 2007 at 1:48 pm
[...] Earlier this week I published an article on this blog focusing on the disconnect between consumers and pharmaceutical executives about drug firms’ activities. Dr. Roy Poses, who writes the blog Health Care Renewal, was kind enough to include my post in the latest edition of the Health Wonk Review. He also took issue with a phrase I used to describe industry insiders: well meaning. Here is what Poses said: [...]