Pharma Can Reset Reputation In Pandemic, Says Novartis CEO
Vas Narasimhan hopes that donations and the "unprecedented collaborations" between drugmakers trying to overcome the COVID-19 pandemic is leading to a shift in the perception of the value of the sector to society.
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Sanofi is the latest drugmaker to announce a major initiative aimed at improving access to medicines in poorer countries, the type of move that should continue to lift the reputation of big pharma above the likes of big oil and big tobacco.
The global health crisis has presented a chance for the industry to improve its reputation by highlighting the value of its R&D engines. Pharma execs and observers talk to Scrip about why they are optimistic about industry’s chance to regain public trust.
The massive need for a COVID-19 vaccine and treatments has heightened the biopharmaceutical industry’s visibility among consumers and the world’s largest biopharma companies are getting a boost in positive perception this year, according to a new FutureBrand survey. If sustained, this could have dividends in areas such as attracting industry talent and clinical trial participants. But much remains to be seen as biopharma navigates the final stretch of clinical development, regulatory review, distribution and patient access.