Sep 11, 2019 03:10 AM
https://www.acsh.org/news/2019/09/09/why...ever-14275
EXCERPT: . . . A recent poll from Gallup has found that the pharmaceutical sector is the most loathed industry in the country. It scored a net favorability rating of -31 points (27% positive, 58% negative), which is its lowest rating since the poll’s inception in 2001. For comparison, advertising/public relations earned a (relatively) respectable net rating of -1 point, and the federal government came in at -27 points.
What’s going on? On its face, you may not have expected that our most reviled industry is one whose mission is to save lives and alleviate suffering from disease. Not only that, but broadly increasing life expectancies, lower rates of mortality from many diseases, and other indicators suggest that Big Pharma does a pretty good job of achieving those goals.
If only the story were that simple. Pharma’s image has been battered by a variety of misconceptions, but it’s also suffered from plenty of legitimate scandals and self-inflicted wounds. To help keep track of everything, let’s dissect some of the factors—both the sensible and the nonsensical—that are driving the embarrassingly bad reputation of the pharmaceutical industry to even greater depths. (MORE - details)
COVERED:
1. Drug prices are astronomically high…and they’re getting higher all the time
2. Patent acrobatics sometimes push the boundaries of legality
3. The origins of the opioid crisis can be traced to prescription drugs
4. Most people don’t know how challenging and costly making a new drug can be
EXCERPT: . . . A recent poll from Gallup has found that the pharmaceutical sector is the most loathed industry in the country. It scored a net favorability rating of -31 points (27% positive, 58% negative), which is its lowest rating since the poll’s inception in 2001. For comparison, advertising/public relations earned a (relatively) respectable net rating of -1 point, and the federal government came in at -27 points.
What’s going on? On its face, you may not have expected that our most reviled industry is one whose mission is to save lives and alleviate suffering from disease. Not only that, but broadly increasing life expectancies, lower rates of mortality from many diseases, and other indicators suggest that Big Pharma does a pretty good job of achieving those goals.
If only the story were that simple. Pharma’s image has been battered by a variety of misconceptions, but it’s also suffered from plenty of legitimate scandals and self-inflicted wounds. To help keep track of everything, let’s dissect some of the factors—both the sensible and the nonsensical—that are driving the embarrassingly bad reputation of the pharmaceutical industry to even greater depths. (MORE - details)
COVERED:
1. Drug prices are astronomically high…and they’re getting higher all the time
2. Patent acrobatics sometimes push the boundaries of legality
3. The origins of the opioid crisis can be traced to prescription drugs
4. Most people don’t know how challenging and costly making a new drug can be
