The Pharma industry sinks to last place in latest consumer sentiment poll

Consumers now think less of the pharma industry than any other industry. It replaced the federal government in the annual Gallup poll that asks Americans for their views of 25 industries.

The Gallup is a poll that asks Americans sentiments on the biggest industries by asking respondents to rate their view based on the metrics of very positive, somewhat positive, neutral, somewhat negative, very negative.

Americans are more than twice as likely to rate the industry negatively (58%) as positively (27%) giving it a net score of -31. This score is the lowest the pharma industry has ever received since the polls inception in 2001. So bad is this score, that Gallup stated very few industries have ever scored lower than -31. With only the government, oil and gas and automobile ever falling below this value in the past 19 years.

Gallup has pointed out that this fall from grace stems from the waves of criticism that industry has been facing recently for its standard norms such as “generating the highest drug costs in the world to spending massive amounts in lobbying to the industry’s role in the US opioid crisis.” What is even more worrying for the industry, is that this poll was taken in early August before the recent court ruling against J&J in Oklahoma over its role in the opioid crisis.

Gallup says that not all is lost and that the industry can make gains in the next few years, bringing up past examples of the real estate industry in 2008 posting a score of -40 and as of 2019, real estate placed in the top 10 among Americans.

The industry to top the list this year with a score of +58 is the restaurant industry, followed by the computer industry with +50 and the grocery with +43.

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