Survey finds the pharma industry has been impacted by drug prices

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28th March 2017 12:41 - Pharmaceutical

Survey finds the pharma industry has been impacted by drug prices: A new survey has revealed that the reputation of the pharmaceutical industry amongst patient groups was negatively affected in 2016. It was found that there is continuous dissatisfaction surrounding the high price of drugs.

Of the respondents from the patient groups, 37.9 per cent said that the industry either had a “excellent” or “good” corporate reputation in 2016, in comparison with 44.7 per cent in 2015.

Conducted by Patient View, the global survey also revealed that 11 per cent of patient groups believe that the pharmaceutical industry is “excellent” or “good” at fair pricing, a decline from 15 per cent in 2015. A further 25 per cent said that the industry markets drugs ethically.

The survey was conducted in November 2016 to early February 2017, and gathered feedback from 1,463 patient groups in more than 46 specialties across 105 countries.

The results may have been influenced by the fact that 164 of the groups were based in the United States, which has the highest drug prices in the world, and where many patients have to contribute to the cost of drugs themselves.

Of the respondents, 27 per cent think that the pharmaceutical industry provides good access to clinical trials and 20 per cent think the industry behaves in a transparent manner.

Last year, 23 per cent of patient groups thought the pharmaceutical industry’s corporate reputation had improved over the previous five years, compared with 28 per cent of patient groups in 2015.

When asked how the pharmaceutical industry could improve, 143 organisations suggested partnering with patient groups, and 63 said the industry should consider the cost of drugs.

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