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Lilly CEO Calls for Biopharmaceutical Industry Changes and Policies That Encourage Medical Innovation
Date:3/9/2011

TOKYO, March 9, 2011 /PRNewswire/ -- To address growing unmet medical needs and strengthen the global economy, new approaches to biopharmaceutical research and policies that support innovation are critical, according to John Lechleiter, Ph.D., chairman, president and CEO of Eli Lilly and Company (NYSE: LLY).

In remarks to the U.S./Japan Business Council Wednesday in Tokyo, Lechleiter outlined two imperatives to secure the future of the research-based pharmaceutical industry and help stimulate the global economy: changing the way companies conduct research – or "reinventing invention" – and implementing public policies that promote an environment in which medical innovation can thrive.  

Lechleiter said that innovation is a key element in "re-energizing our economies and meeting the growing needs of aging populations."  He added that the aging of society has progressed farther in Japan than anywhere else in the world and that poses a particular challenge:

  • As of September 2010, Japan counted nearly 45,000 people over the age of 100.
  • According to a UN survey, by 2050 Japan is expected to have 272,000 centenarians, although some predict the number could be closer to 1 million, and 40 percent of the Japanese population will be 65 or older.  
  • As Japan ages, demand for medical care will triple in the next 25 years, according to the international consulting firm McKinsey & Co.

Lechleiter noted that a report issued last year on Alzheimer's disease said that the global costs for caring for people with dementia in 2010 would surpass $600 billion – equal to about 1 percent of the world's GDP.  Other research has found that the direct costs of dementia care in Japan are higher than in any other country except the United States.

With these global challenges in mind, Lechleiter made a case for the value of biopharmaceutical research a
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SOURCE Eli Lilly and Company
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