American's Downgrade Pharmaceutical Industry
The pharmaceutical industry is not popular anymore, at least in American's eyes. This was the result of a recent poll by the American analytics and advisory company Gallup. With a negative rating of 58%, the pharma industry is now the most poorly regarded industry in the USA.
It is an unprecedented low point for the industry. The ratings for the pharma industry have never been lower since Gallup's first industry poll in 2001. The current results show that Americans are more than twice as likely to rate the pharma industry negatively as positively. Although the result may sound surprising, this trend has been foreseeable over the past years.
The American pharmaceutical industry is currently struggling with many big issues. Firstly, there is the opioid issue, which is being now treated as a national crisis. Then there is a lot of criticism of industry norms. Then there is the fact that the US generates the highest drug costs in the world. - At least the latter may change soon and create a better sentiment among Americans towards their pharmaceutical industry. Legislators are in the process of lowering pharmaceutical prices in the industry. However, it is still unclear when this will become effective.
Even though the pharmaceutical industry is currently doing poorly, this could change in the future, Gallup says referring to former experiences with low rated industries. Gallup knows the challenges the pharma industry is dealing with and states that it is not going to be easy. As the poll results reflect the perception of the population, the pharmaceutical industry should see them as a signal that should not be ignored.