Washington, DC – A new Gallup poll out today illustrates just how unpopular the drug industry is with the American public – ranking dead last in approval behind a slew of other big industries including oil and gas and big banks. It’s no surprise Pharma’s approval rating continues to plummet: Americans blame the industry for the skyrocketing price of prescription drugs all while they rake in massive profits thanks to the GOP’s tax bill give away.
Despite its record-low popularity, Republicans in Congress continue to do the industry’s bidding by refusing to allow Medicare to negotiate for lower drug prices and stonewalling legislation to lower health care costs at every turn.
Peter Sullivan // September 3, 2019
The public’s view of the pharmaceutical industry has sunk to a record low in a new Gallup poll.
The poll finds that 27 percent of the public has a positive view of the industry, compared to 58 percent with a negative view, for a net rating of negative 31 points.
That is the lowest of any of the entities Gallup polled, below the federal government, at negative 27 points, the advertising industry at negative one, the legal field at positive five, and airlines at positive 19.
The public’s favorability towards the pharmaceutical industry is at the lowest point since Gallup began polling the question in 2001. Just four years ago, the industry had a net positive rating of four points, but that has plummeted in the years since then.
The hit to the industry’s image comes as both parties are increasingly lashing out at drug companies for their prices.
Both Democrats and President Trump have made lowering drug prices a top priority and have attacked drug companies for their prices.
It remains unclear whether Congress can actually agree on any action this year, given that many congressional Republicans remain resistant to taking aggressive action, and Democrats are pushing for more.
The pharmaceutical industry remains a formidable force in lobbying and campaign contributions.