REUTERS/Karoly Arvai
Glancing at the headlines, it might seem like drug companies have a hard time avoiding anger over the prices of medications.
But public opinions about them have changed in some surprising ways in recent years, especially amid controversies over the high and rising prices of drugs, specifically in the US.
A new analysis from the research consulting firm Reputation Institute evaluated public perceptions of 17 pharmaceutical companies in seven areas: products and services, innovation, workplace, governance, citizenship, leadership, and financial performance. These contribute to companies’ “RepTrak” score.
The report drew from 16,800 ratings done by people in eight countries, including the US, Canada, and the UK.
The report found that on average, drug companies’ reputations have been going up over the past few years. The company with the highest reputation was AbbVie. Young people aged 18-24 tended to have a lower impression of pharmaceutical companies than older age groups. And of the eight countries included in the survey, those in the US had the most favorable view of the industry.
Check out the Reputation Institute’s drug company scores, ranked from lowest to highest:
17. Pfizer. RepTrak Points: 68.4
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Pfizer, which is known for drugs like Lipitor and Viagra, had the lowest reputation of the 17 companies the Reputation Institute looked at. Pfizer didn’t fare as well as its pharma counterparts in terms of its reputational ranking.
16. GlaxoSmithKline. RepTrak Points: 68.5
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GlaxoSmithKline, headquartered in the UK, along with Pfizer were the only two companies that had “average” reputations, while the rest had “strong” reputations. GSK became the first big pharma company to have a female CEO when Emma Walmsley took on the role in March.
TIE 14. Novartis. RepTrak Points: 70.4
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Switzerland-based Novartis scored a higher reputation than last year, which was the case for all but two companies.
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