Pharmaceutical companies carry increasing ethical risks related to innovation, states a report released on 29 August 2007 by Geneva-based ethical reputation research firm Covalence, Covalence Pharmaceutical Industry Report 2007. These innovation-related risks deal with intellectual property rights, drug pricing, clinical trials, drug side-effects and transparency. In terms of ethical reputation, innovation seems to bring more trouble than benefit to R&D oriented pharmaceutical companies. From July 2006 to July 2007, the pharmaceutical industry only ranks ninth out of ten industries in Covalence’s EthicalQuote reputation ranking. While spectacular announcements are heard every day, and innovation is scrutinized by suspicious observers, pharmaceutical companies have to develop and invent additional ways to be recognized as sustainable, using lessons learned during pioneer time. Within the industry (14 among the largest Pharmaceutical companies in market capitalization), the EthicalQuote reputation curves calculated from 2002 to July 2007 show GlaxoSmithKline leading the list ahead of Bristol Myers Squibb and Johnson & Johnson, while Takeda and Schering Plough occupy the last positions; Novartis ranks fourth and Roche fifth. Results representing the Reported Performance of companies (positive news accounted over the last 12 months) place Pfizer in first position, followed by Abbott, Novartis, and AstraZeneca, while Roche is eleventh. > Continue.
Publication: Covalence Press Release | Country: Global | Company: Abbott, AstraZeneca, Boehringer Ingelheim, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline, Johnson & Johnson, Merck and Co, Novartis, Pfizer, Roche, Sanofi aventis, Schering Plough, Takeda | Source: Covalence
