Concise insights on global finance in the Covid-19 era. ------------------------------------------------- POPULARITY CONTESTS. The pandemic and vaccines to prevent the disease, have buffed pharma’s reputation. According to a Harris Poll survey this month, almost two-thirds of respondents rate the industry’s reputation as favorable, about twice as many as those who did a year ago. Popularity should give the industry negotiating leverage, which matters right now. Democratic control in Washington threatens to clamp down on pharma profitability. Senators Michael Bennet and Tim Kaine introduced legislation last week to allow the government to negotiate lower prices for Medicaid drugs. The Congressional Budget Office has estimated negotiations could save the government over $300 billion in drug spending between 2023 and 2029. The CBO also estimated that a reduction of less than $1 trillion in revenue over a decade would lead to eight to 15 new drugs not reaching the market. House hearings on Tuesday forced executives of Pfizer , Moderna and Johnson & Johnson to answer questions on Covid-19 vaccine production. Lawmakers were cordial, but pharma could remind them in the future that profit has been the best pandemic insurance. (By Robert Cyran)