OUCH! . . . The pharmaceutical industry has hit a new low. It now ranks last of the 25 industry sectors Gallup tests annually.
Source: Gallup, September 3, 2019. Link. Americans are more than twice as likely to rate the pharmaceutical industry negatively (58%) as positively (27%), giving pharma a net-positive score (-31). Joining it in the net-positive negative numbers are: advertising and public relations industry, healthcare industry and the federal government. Farming and agriculture ranked fourth.
Americans’ net ratings for the pharmaceutical industry have never been lower since Gallup first polled on industries in 2001. The ratings will likely not recover until its role in the opioid epidemic is addressed, and the political pressure on the industry for high prices and massive profits subsides.
INSIGHTS: The animal health component of pharma does not appear to be included in the Gallup test per se. However, some customers identify animal health brands in the same images of their human company counterparts. We must keep this in mind. Animal health pros’ behaviors remain under scrutiny from customers and colleagues. I’ve heard it hundreds of times from extended family, friends and veterinary team members when referring to human companies, “ . . . those cushy, high-paid drug company folks just do not understand.”
Americans’ views of all industries are susceptible to larger economic forces, says Gallup. Remember that, to some, the expansive travel, award trips, company cars and seemingly fat expense accounts we manage support images of massive profits. If we maintain character and behaviorial consistency, we will keep animal health companies viewed positively.