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Lilly and New York City Mayor Michael R. Bloomberg Announce Lilly Agrees to be First Tenant of East River Science Park; Issue Urgent Call for Healthcare Reform that Protects Innovation and Jobs
Date:7/22/2009

f the oncology powerhouse we are building. Our new location in New York with access to the latest research tools and our FIPNet partners will also help us speed innovative medicines to patients. However, to protect this innovation, we are going to need healthcare reform that encourages innovation and in turn leads to breakthrough, life-saving medicines for patients. In this case, patients battling cancer are the focus."

According to 2006 data, the biopharmaceutical industry supported more than 215,000 jobs in New York while investing $1.8 billion in research and development to reap a return of $44.6 billion in economic output.

The current proposed "Pathways to Biosimilars Act" now before Congress paves the way for innovation by allowing for a 14-year data package exclusivity period for Lilly to recoup its investment. Is it too much to ask to be able to protect the recipe for a billion-dollar investment to bring a life-saving medicine to patients? According to Lechleiter, "At Lilly, we don't think so."

About Lilly

Lilly, a leading innovation-driven corporation is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers -- through medicines and information -- for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com.

This press release contains forward-looking statements about the potential of several investigational compounds for the treatment of several types of cancer and reflects Lilly's current beliefs. However, as with any pharmaceutical product under development, there are substantial risks and uncertainties in the process of development and regulatory rev
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SOURCE Eli Lilly and Company
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