Lilly chief wants new research and innovation policies

 Eli Lilly Chairman John Lechleiter says companies should change the way they conduct biopharmaceutical research and promote policies in which medical innovation can thrive.

The Lilly supremo believes a new approach is critical to address growing unmet medical needs and to strengthen the global economy.

Speaking to the US/Japan Business Council in Tokyo, Lechleiter said that innovation is essential in “re-energising our economies and meeting the growing needs of aging populations”.

He said that by changing the way companies conduct research and starting public policies that promote an environment in which medical innovation can thrive, it would secure the future of the research-based pharma industry whilst stimulating global economies.

“We believe that wise investments in healthcare innovation will be among society’s most productive investments in the years ahead, and that medicines represent the most cost-effective approach to preventing and treating disease,” Lechleiter said.

“A company’s ability to pursue innovation – in any field – requires that governments maintain solid protection of intellectual property; a fair, rigorous and transparent system of regulation; and a predictable tax structure that allows us to plan and invest for the future.

“Innovation is not a panacea for the challenges facing our economies and healthcare systems, but it is hard to see any way out of the current crisis without innovation.”