Here's something that should be required reading for all those covering the biotech industry at the WSJ. Think of it as diversity training..
The Business & Media Institute’s new in-depth study Prescription for Bias,†which documents unbalanced media coverage of the pharmaceutical industry. Released today, the report quantifies the bias against drug companies based on analysis of 132 stories on prescription or over-the-counter drugs from the ABC, CBS and NBC evening newscasts between January 1 and Sept. 30, 2006.
Among the study’s key findings:
· Industry Ignored – 80% of stories excluded the viewpoint of the pharmaceutical industry
· Cost to Consumer – Media overemphasized consumer drug costs as opposed to drug development costs at a radio of 11:1
· Companies Unnoticed – Only 22% of the stories even named the company responsible for developing life saving cures
· What Development Costs? – A mere 2% of the stories addressed the cost to companies for researching and developing drugs
The report also includes recommendations to improve network coverage.
The full report can be found at:
http://www.businessandmedia.org/specialreports/2007/PrescriptionForBias/PrescriptionForBias_execsum.asp
Oddly enough, a story that aired on all networks last night was consistent with many of the reports findings. When reporting on the new breakthrough drug Tykerb, the media failed to give due credit to GlaxoSmithKline or report the development costs. You can read about it here:
http://www.businessandmedia.org/articles/2007/20070314165615.aspx
The Business & Media Institute’s new in-depth study Prescription for Bias,†which documents unbalanced media coverage of the pharmaceutical industry. Released today, the report quantifies the bias against drug companies based on analysis of 132 stories on prescription or over-the-counter drugs from the ABC, CBS and NBC evening newscasts between January 1 and Sept. 30, 2006.
Among the study’s key findings:
· Industry Ignored – 80% of stories excluded the viewpoint of the pharmaceutical industry
· Cost to Consumer – Media overemphasized consumer drug costs as opposed to drug development costs at a radio of 11:1
· Companies Unnoticed – Only 22% of the stories even named the company responsible for developing life saving cures
· What Development Costs? – A mere 2% of the stories addressed the cost to companies for researching and developing drugs
The report also includes recommendations to improve network coverage.
The full report can be found at:
http://www.businessandmedia.org/specialreports/2007/PrescriptionForBias/PrescriptionForBias_execsum.asp
Oddly enough, a story that aired on all networks last night was consistent with many of the reports findings. When reporting on the new breakthrough drug Tykerb, the media failed to give due credit to GlaxoSmithKline or report the development costs. You can read about it here:
http://www.businessandmedia.org/articles/2007/20070314165615.aspx
