Pharmaceutical industry ranked one of the highest contributors to UK society

28 Jun 2019

Public perception, however, still falls far below other sectors.

The pharmaceutical industry ranks among the least successful sectors in demonstrating its value to society, a new study by Portland has revealed.

Pharmaceutical industry ranked one of the highest contributors to UK society

Portland’s inaugural Total Value Index has launched today and measures the value that organisations create for all stakeholders. It looks at nine sectors and uses a wide range of measures including profits and dividends, R&D levels, employee diversity and satisfaction to records on corporate tax and the environment, to assess and rank the total value performance of sectors. It also tests the findings against how an external informed audience thinks the different sectors are doing and why.

The pharmaceutical industry scored consistently low on perceptions for most measures. In real terms, however, Portland’s data found that they industry adds much more value than most sectors, particularly in local investment, strong dividend performance, and the presence of female CEOs. These findings reflect the opportunities for industry to communicate its real terms contribution and close the gap between opinion and reality.

Pharmaceuticals had the largest perception gap of any sector for their role as a producer, demonstrating the greater need for individual companies to explain the life-changing nature of the medicines that they create.

Negative drivers that lowered overall perceptions of the industry included public drug price debates with the NHS, Brexit stockpiling uncertainties, executive pay, and lack of transparency over clinical trials.

Dr Jane Brearley, Senior Partner and Head of Health at Portland, said: “These findings show that the pharmaceutical industry can no longer rely on old narratives of large R&D investment to raise its reputation. To cut-through to payers and the public, individual companies must centre their value story on the life-changing effects of their treatments for patients, and their ability to provide the NHS with the headroom it sorely needs”.

The Total Value Index measures the value brought to society by nine sectors – retail, TMT, banks, automotive, real estate, oil & gas, food, water and pharma.

Read More

Related news

Eisai collaborates with University of Dundee on cancer drug discovery

Eisai collaborates with University of Dundee on cancer drug discovery

10 Jul 2019

It is hoped that research into PROTACs will lead to new drug discoveries for proteins present in cancer, which are difficult to treat with conventional small molecule inhibitors.

Read more 
Onyx Scientific makes strategic investment in commercial API licence

Onyx Scientific makes strategic investment in commercial API licence

10 Jul 2019

Investment fills the growing gap in the market for manufacturers that have the niche capabilities to deliver small-scale commercial API projects.

Read more 
I Holland to share the science behind tool maintenance

I Holland to share the science behind tool maintenance

9 Jul 2019

Proper maintenance - rather than replacement - of compression tooling will improve profitability.

Read more 
Catalent extends global commercial spray drying capabilities in Europe

Catalent extends global commercial spray drying capabilities in Europe

9 Jul 2019

Company's customers to have immediate access to Niro PSD2 and PSD4 spray driers, which are supported by dedicated clean area facilities for both solvent and aqueous processing of potent or non-potent drug formulations.

Read more 
Operations commence at Wasdell Group’s EU headquarters

Operations commence at Wasdell Group’s EU headquarters

8 Jul 2019

The new facility houses 11 bespoke production suites and temperature controlled high-way warehouses increases Wasdell’s capacity in clinical and commercial packaging, distribution & logistics and QP services.

Read more 
Porvair Sciences launches first Drosophila ChIP kits

Porvair Sciences launches first Drosophila ChIP kits

4 Jul 2019

Offers a single optimised Chromatrap kit with unique buffers and components for Drosophila chromatin extraction and ChIP.

Read more 
Boehringer Ingelheim expands NASH R&D pipeline with new first-in-class compound

Boehringer Ingelheim expands NASH R&D pipeline with new first-in-class compound

3 Jul 2019

Yuhan Corporation to receive up to USD 870 million in upfront and success-based development and commercialization milestones, excluding royalties.

Read more 
Fresh data on protein interactions in Alzheimer’s disease

Fresh data on protein interactions in Alzheimer’s disease

2 Jul 2019

Demonstrates the unique ability of diffusional sizing to assess protein binding in-solution and for difficult-to-study systems.

Read more 
Fujifilm Irvine Scientific to open new cell culture media manufacturing site in Europe

Fujifilm Irvine Scientific to open new cell culture media manufacturing site in Europe

2 Jul 2019

The space will support cGMP manufacturing of animal component-free, dry powder media, liquid media, and downstream bioprocessing liquids.

Read more 
Novartis bolsters ophthalmic portfolio with acquisition of Xiidra

Novartis bolsters ophthalmic portfolio with acquisition of Xiidra

1 Jul 2019

Xiidra 5% is the first and only prescription treatment approved to treat both signs and symptoms of dry eye by inhibiting inflammation caused by the disease.

Read more