Boston, MA, June 14, 2018 (GLOBE NEWSWIRE) -- Reputation Institute (RI), the world’s leading provider of reputation measurement, monitoring and management services, today announced the company’s annual US Pharma RepTrak® rankings. Based on more than 2,608 individual ratings of pharmaceutical companies during the first quarter of 2018, the survey quantifies the emotional bond stakeholders have with pharma companies in the US, and how these connections drive supportive behavior such as the willingness to purchase a company’s products, recommend the brand, invest in or work for a company.
The top 10 companies in RI’s 2018 US Pharma RepTrak are:
1. Sanofi [NYSE: SNY]
2. Genentech
3. Celgene [NASDAQ: CELG]
4. AbbVie [NYSE: ABBV]
5. Biogen [NASDAQ: BIIB]
6. Bayer [ETR: BAYN]
7. Gilead [NASDAQ: GILD]
8. Allergan [NYSE: AGN]
9. Novo Nordisk [NYSE: NVO]
10. McKesson [NYSE: MCK]
Observations of Reputation Disruption in 2018
The 2018 US Pharma RepTrak results reveal that national and industry reputations are under stress, with pharmaceutical companies following the broader national trends with a -3.7 point decline in reputation score compared to 2017. There is a significant erosion of trust in the pharmaceutical industry, with scores in “Benefit of the Doubt” and “Trust to Do the Right Thing” declining by 13 percent and 14 percent respectively year-over-year. Negative media coverage of the industry is a strong contributor to the reputation decline.
Among industry challenges, low familiarity within the general public hurts the pharmaceutical industry’s ability to communicate with their stakeholders and convey what they are about and doing. Within the pharmaceutical industry, 62 percent are challenged by low familiarity within the public perceptions. Likewise, 60 percent of respondents are either unsure or unconvinced as to whether pharma companies are exhibiting good governance. Many pharmaceutical companies are succeeding in areas the public has less concern for – financial performance – and failing in areas the public values most – governance.
“The study results reveal an opportunity for pharmaceutical companies to improve their reputation and increase stakeholder support,” said Ivan Rocabado, Reputation Institute Vice President and Consulting Director for North America. “Increasing familiarity of the corporate brand of pharma companies among the general public ties directly to a lift in ‘Trust’ and ‘Benefit of the Doubt’ resulting in greater support.”
Insights from the study highlight many opportunities for improving reputation within the pharma industry. The study results reveal that the top companies with the best reputations and broadest stakeholder support are distinguishing themselves by driving high scores in ethical governance, openness and transparency, and supporting good causes.
“Companies can’t just focus on financial performance,” explains Meghan Burke, Reputation Institute Research Analyst. “In particular, pharmaceutical companies need to lead with ethics, prioritize governance, be authentic and seize their narrative to enhance their reputation.”
Learn More and Get Your Company’s Pulse Score
On an annual basis, RI measures the reputation of thousands of companies using the RepTrak framework, including measures of the most highly regarded and familiar multinational companies in 15 countries including Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, South Korea, Spain, the United Kingdom and the United States.
To access the full list of the most reputable companies in the US please visit: https://www.reputationinstitute.com/us-pharma-reptrak-2018 To get your company’s 2018 score and learn how you can improve your ranking and grow your stakeholder support, just ask us at: https://www.reputationinstitute.com/about/Contact-Us
About Reputation Institute Reputation Institute powers the world’s most reputable companies. By tracking and analyzing stakeholder perceptions, we unleash the power of reputation intelligence to enable leaders to build better companies. Our RepTrak® model analyzes the reputations of companies and is best known as the Forbes-published RepTrak 100. Underlying the model is the RepTrak methodology, the global gold standard for measuring reputation. Learn more at: http://www.reputationinstitute.com
Karen Hopp Bazini Hopp for Reputation Institute 917-514-1723 karen@bazinihopp.com
