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Lilly CEO: 'Are We Getting Our Money's Worth from Medical Innovation?'
Date:10/29/2010

the greatest return on innovation.  Along with offering tremendous health benefits, "There's compelling evidence that innovative medicines are often the most cost-effective part of health care," said Lechleiter.  He pointed to the following:

  • Over the last 40 years, the use of medicines has cut in half the number of hospital admissions for 12 major diseases.  
  • The power of new cardiovascular medications in the past 30 years to prevent or delay heart disease already has eliminated the need for tens of thousands of costly surgeries and hospitalizations.
  • Other medicines have kept thousands of patients with mental illnesses from facing institutional confinement for months or years – often at taxpayer expense.  

Lechleiter said Lilly's strategy was to further increase the value of the medicines it produces, moving from medicines that provide efficacy at the population level to those that provide improved outcomes for individual patients.

"With the help of new tools and advances in life science, we're working to tailor medicines to individual patients' needs, providing them the right drug at the right dose at the right time," said Lechleiter. He discussed how tailored therapies will provide better value for both patients and payers.  

In addition to the value generated by innovative medicines, Lechleiter pointed to the economic value of life sciences research on the broader U.S. economy. The biosciences industry today employs some 1.3 million Americans and supports a total of 7 1/2 million jobs across the U.S. economy.

While the U.S. is the undisputed leader in medical advances, this leadership is also increasingly at risk. Lechleiter said that while there is a clear role for enterprising businesses in sustaining innovation, it is critical that public policy help preserve the environment in which innovation is possible. That requires the
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SOURCE Eli Lilly and Company
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