Biopharm Companies Need New Engagement Plans: Analysis
APCO Worldwide says that while the biopharmaceutical industry’s reputation remained stable since last year, there is little reason to believe it will continue in a positive direction without a shift in engagement strategies. The firm’s Return our Reputation study says the central industry vulnerability is a doubt about its purpose. “To keep balance in favor of strengths (what the industry does) and not tip to the criticisms (how it behaves), there must be certainty that the industry is at the service of public health,” writes APCO Insight director Chrystine Zacherau. “In this context, maintaining a positive direction is unlikely, and is seen as the reputation of specific companies are declining during the same period of time.”
Zacherau says that in the past year the industry had to confront a uniquely hostile social and political environment. “Now is the time for engagement,” she concludes. “The combination of unprecedented levels of civic activism with growing concern about companies’ conduct will keep the spotlight shining on the pharmaceutical sector. Scientific discovery must be connected to everyday value, not investment portfolios. And, the doors of companies must open to reveal researchers, doctors, nurses, and public health experts, not sales teams.”