Lilly CEO Says Industry, Public Policy Must Pave Way For ... ( LONDON Feb. 10 2011 /- A new approach...)

Lilly CEO Says Industry, Public Policy Must Pave Way For Innovation

Date:2/10/2011

LONDON, Feb. 10, 2011 /PRNewswire/ -- A new approach to research, along with public policies that support medical innovation, will help biopharmaceutical companies address stubborn diseases with potentially devastating personal and financial consequences, such as cancer and Alzheimer's disease, according to John Lechleiter, Ph.D., chairman, president and CEO of Eli Lilly and Company (NYSE: LLY).

Lechleiter made his remarks Thursday in London during a keynote address at The Economist's 2011 Pharma Summit: Reinventing Pharma for a New Generation. During his talk, Lechleiter said two imperatives are needed to secure the future of the research-based pharmaceutical industry: changing the way companies conduct research, and public policies that promote an environment in which medical innovation can flourish.

The burden of several diseases is soaring in many countries, including the U.K.

According to the Alzheimer's Research Trust, for instance, more than 800,000 people in the U.K. are directly affected by dementia at a cost of 23 billion pounds Sterling per year.

And yet, just when the world desperately needs more new medicines for diseases like Alzheimer's, "our industry is taking too long, we're spending too much, and we're producing far too little," Lechleiter told the audience.

Lechleiter said the case for biopharmaceutical research and new medications is compelling. Specifically, he noted that:

Innovative medicines have proven themselves time and again to be the most effective way to reduce costs and improve quality in health care.
Treatments for diseases that remain unconquered, like cancer and Alzheimer's, most likely will come from laboratories of biopharmaceutical companies.
Even diseases that are being treated today, like diabetes, require better solutions.

"Ironically, the crisis in our innovation model comes at a time when we have vastly more s
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SOURCE Eli Lilly and Company
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