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Is there no prescription? Reputation in the pharmaceutical industry

In: Reputation Capital

Author

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  • Andrea Fischer

    (Former German Federal Health Minister)

Abstract

The reputation of the pharmaceutical industry is at best contradictory. Despite the undeniable benefits it brings by developing new medicines, its profit orientation and relatively high profit margins are viewed with mistrust. This is underscored by sporadic reports about sometimes dubious practices with risky consequences for patients and real health improvements. The industry can only confront this with a long-term strategy built on more openness and a greater readiness to face public debate. This readiness must be demonstrated by both a visible corporate strategy – that must be implemented right through to the lowest level of staff – and in the way the industry deals with increasing calls from the public for greater transparency.

Suggested Citation

  • Andrea Fischer, 2009. "Is there no prescription? Reputation in the pharmaceutical industry," Springer Books, in: Joachim Klewes & Robert Wreschniok (ed.), Reputation Capital, pages 347-359, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-01630-1_24
    DOI: 10.1007/978-3-642-01630-1_24
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    Cited by:

    1. Linda O’Riordan & Jenny Fairbrass, 2014. "Managing CSR Stakeholder Engagement: A New Conceptual Framework," Journal of Business Ethics, Springer, vol. 125(1), pages 121-145, November.

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