R&D has a Crucial Role in Shaping Corporate Reputation

How Transparency and Communication in R&D Build Trust and Leadership

In the pharmaceutical industry, research and development (R&D) is not just a department; it is the very heart of the company. Founded to address unmet medical needs, pharmaceutical companies rely heavily on their R&D efforts to innovate and improve patient outcomes. However, despite its importance, R&D is often under-communicated, leaving a gap in how companies are perceived by healthcare professionals (HCPs) and the public.

Disease-Specific Leadership is Built on R&D

According to the 2024 BiM Health Report, the level of disease expertise, as perceived by HCPs, is a critical component of a company’s reputation. Demonstrating disease-specific leadership (59%) even slightly surpasses corporate reputation (58%) in importance. This highlights the significant contribution of R&D to a company's overall reputation. More than half of HCPs interviewed identified trust as the most crucial driver of reputation. Furthermore, 54% of physicians believe that investment in R&D is a key factor influencing their trust in pharmaceutical and biotech companies. So communicating the efforts of the R&D departments is more influential than one might think.

The Power of Transparency: Communicating Science During the Pandemic

A prime example of leading through transparency is the scientific communication exhibited by pharmaceutical companies and research institutes during the pandemic. Never before has research data been shared so widely, and this cooperative process resulted in a completely new vaccine platform. mRNA was a rather scientific and mostly theoretical topic; this new technology needed to be clearly explained to the practitioners, nurses and politicians in charge of the vaccination programs, as well as the public--all at the same time.

Despite the presence of loud skeptics, especially among the general public, companies like BioNTech maintained transparent communication with HCPs through medical training, newsletters, service websites and helplines- -both those specifically for HCPs and for the general public. This approach not only provided essential information and supported the fight to end the pandemic; it also helped build a strong positive reputation within the HCP community in Germany.

Transparency and clear communication are paramount in clinical trials and research. According to the BiM Health Report, 39% of physicians emphasized the importance of transparency in clinical trials. This holds even greater significance for younger physicians, underscoring the need for pharmaceutical companies to communicate openly about their R&D activities, clinical trials, data collection, patient access and education, particularly in areas with underserved medical needs.

In the daily work of R&D teams lies a treasure trove of opportunities for communication and reputation-building in specific disease areas. Companies must leverage this potential by maintaining transparency and engaging in clear, consistent communication. This includes not only great R&D results or breakthrough drug development but also adjustment of timelines, tough decisions, or even excuses for mistakes made in the past. By doing so, they can enhance their reputation, build trust with HCPs, and establish themselves as thought leaders in their respective fields.

It’s Not Just Science – It’s a Cornerstone of Trust

In conclusion, R&D is not just about scientific discovery; it is a vital component of a pharmaceutical company's reputation. Our global Brands in Motion health study, “Reputation Rules: Unlocking Physician Prescribing Power,” shows that when a physician is choosing between drugs of similar safety, efficacy and cost profile, most physicians will look to the corporate reputation of the biotech or pharma company to make their final decision.

By prioritizing transparency and communication, companies can build trust, demonstrate leadership, and ultimately improve their standing in the eyes of healthcare professionals and the public. As the industry continues to evolve, the importance of R&D in shaping corporate reputation will only grow, making it essential for companies to invest in and communicate their R&D efforts effectively.