AstraZeneca Climbs Oncology Reputation Ranking to Claim 2nd Spot After Roche
AstraZeneca’s oncology division has made significant strides in recent years, culminating in the company climbing to second place in PatientView’s latest reputation ranking among cancer patient groups. This marks a notable improvement for the drugmaker, which had previously struggled to maintain a consistent position on the leaderboard.
AstraZeneca’s Rapid Growth in Oncology
AstraZeneca’s rise in the rankings reflects its booming oncology business. In 2017, the company reported $4 billion in oncology revenue. Since then, AstraZeneca has experienced annual growth rates ranging from 13% to 50%, with oncology revenues exceeding $17 billion last year. Four of its cancer drugs generated over $2.5 billion each in 2023.
Inconsistent Past Rankings
Despite the robust sales growth, AstraZeneca’s reputation with patient groups has been variable. The company ranked fourth in 2020, a slight improvement from the previous year, but then failed to break into the top three. In 2021 and 2022, AstraZeneca neither ranked in the top three nor was listed among the fastest risers.
Significant Improvement in Latest Rankings
The most recent PatientView survey marks a dramatic turnaround for AstraZeneca, which climbed eight spots to secure second place. This improvement is particularly noteworthy given the company’s previous lower rankings. AstraZeneca’s partner in antibody-drug conjugates, Daiichi Sankyo, also showed a significant rise, though it did not make it into the top three.
Competitive Landscape
AstraZeneca now ranks between Roche, the repeat winner, and Pfizer on the reputation leaderboard. This ranking is based on the views of patient groups familiar with the companies. When narrowing the analysis to patient groups that actively work with these companies, AstraZeneca also saw a rise to second place, behind Roche and ahead of Servier.
Industry-Wide Trends
The survey results indicate that while AstraZeneca and a few other companies have improved their reputations, the overall perception of the pharmaceutical industry has declined. Sixty-three percent of cancer patient groups rated the industry’s corporate reputation as excellent or good, down from 67% in the previous two surveys.
Decline in Industry Perception
The broader PatientView survey mirrors this trend, showing a decline in the percentage of cancer patient groups that view the pharmaceutical industry positively across most metrics. The most significant drop was in the perception of innovation, with a 9% decrease in groups rating the industry as good or excellent. Additionally, perceptions of the industry’s handling of pricing and access to medicines worsened between the 2022 and 2023 surveys.
Conclusion
AstraZeneca’s impressive rise in the PatientView oncology reputation ranking highlights the company’s growing influence and success in the cancer treatment market. However, the broader decline in the pharmaceutical industry’s reputation underscores the challenges that remain in maintaining trust and satisfaction among patient groups.
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Source: Fierce Pharma