How to use a once-in-a-lifetime chance to expand your license to operate
Pharmaceutical and life science companies may be losing a unique opportunity to raise their reputation and social acceptance to a higher level.
While public opinion toward pharmaceutical companies reached unprecedented heights during the first wave of infections in the early 2020s, the tone has recently shifted massively in a negative direction.
Thanks to people's optimism for new vaccines to combat the COVID-19 pandemic, the pharmaceutical industry enjoyed its best reputation ratings ever in the spring of 2020. Fifty percent of all posts in news media and social media conveyed a positive tone about the industry.
But by the second half of 2020, we saw a decline in public acceptance as companies failed to demonstrate continued commitment to the greater good. Instead, discussions about pricing and whether poor countries and people will get vaccines dominated the debate.