Biopharma should be part of transatlantic trade and economic discussions, Lilly CEO urges

John Lechleiter, chairman, president and chief executive of US drugs major Eli Lilly (NYSE: LSE) has urged that biopharmaceuticals be included in transatlantic trade and economic discussions. Dr Lechleiter, who last week slammed German health care reform (The Pharma Letter July 11), participated in the American Council on Germany's conference on "The Transatlantic Partnership in the 21st Century," joining US Federal Reserve Bank Chairman Paul Volcker; German State Secretary in the Federal Finance Ministry Jorg Asmussen; and Handlesblatt editor-in-chief Gabor Steingart in a panel discussion.

"Biopharmaceutical innovation has enormous global economic and social benefits," said Dr Lechleiter, noting that "new medicines are one of the most cost-effective investments we can make to improve health care and enable more efficient use of health care budgets. The whole world has a stake in policies in Europe and America that promote innovation and trade to address the vast unmet medical needs of growing and aging populations."

Even with these benefits, biopharmaceutical innovation is very susceptible to the political environment - both nationally and internationally. Dr Lechleiter explained that responses to short-term cost pressures by government payers are hampering the sector, citing recent reforms in Germany as an example.