We all know the challenges facing our industry—patent expirations, declining R&D productivity, and ever-increasing pressure
to hold down costs and deliver value—to name a few. But the biggest challenge we face, and one that permeates every aspect
of our business, is the public's lack of trust in our industry.
Patients are looking for Big Pharma to give it a lift, and it's industry's job, through improving perceptions, to get its
customers on board with the notion that it has their best interests at heart. (Getty Images/Compassionate Eye Foundation/Sam
For those of us who have made their careers in pharmaceuticals and know the contributions our industry has made to society,
this lack of trust is both puzzling and frustrating. Why is this happening? After all, our industry has discovered and developed
hundreds of medicines and vaccines that have made important contributions to improve the health and well-being of people around
the world. Yet, instead of being held in high regard as one of the greatest contributors to health in our society, our industry
ranks among the lowest in public trust. In a recent Harris poll, only 11 percent of people said the pharmaceutical industry
is generally honest and trustworthy.
So what went wrong? The answer, I believe, is that in some ways our industry lost its way, and failed to fully appreciate
the evolving expectations of our stakeholders.
Practices Change, Perceptions Remain
Before the first PhRMA Code was adopted in 2002, the industry engaged with its customers in ways that are common in many industries
in which business-to-business selling takes place. That business model may still be OK for some industries, but we do not
sell chocolate or cars. We bring life-altering and life-saving medicines to patients. Society holds our interactions with
our customers—healthcare providers and payers—to a higher standard. And it should. Society expects our business to be conducted
openly and transparently and in a way that does not create even a perception of inappropriate influence.
To be fair, our industry has made significant changes in how we operate over the past decade with the adoption and strengthening
of the PhRMA Code. This may be something our critics either are unaware of, or choose to ignore.
So, negative perceptions remain. Some of this has to do with long-running government investigations, litigation over past
practices, and the resulting news coverage. Some of it is because we haven't done enough to communicate what we do and don't
do. Some of it is because industry bashing is good politics. Some of it is because we still make mistakes. No matter the reasons,
at the end of the day, we must regain the public's trust in our industry.
So, What Should We Do?
We need to ensure our customers understand—that beyond compliance laws and regulations, which is a given—we operate from a
core set of values that underpins every decision we make and every action we take. We must inculcate those values into our
corporate cultures to create a framework and a mind-set in which compliance with rules and regulations is not the ceiling,
but the floor from which our organizations operate.
At GlaxoSmithKline, the four values we strive to live by are:
» Focus on the best interests of the patient;
» Be transparent about our working relationships;
» Operate with integrity; and
» Respect those we work with and serve.
These values are not new to GSK, and we don't always get it right. But, one of my goals in joining GSK two years ago was to
ensure that if you stopped any GSK employee and asked them what the values of the company are, they could tell you without
hesitation. Most importantly, my goal is to ensure our customers see those values in each of our employees.
It is my view that, as long as we continue to demonstrate these values into our daily conduct and decision-making, we will
meet the expectations society has for us, and we will be able to deliver value to our stakeholders in a values-based way.