Eli Lilly CEO addresses USA's innovation crisis as part of American DNA and actions necessary to continue that legacy

Speaking at the Detroit Economic Club yesterday, John Lechleiter, chairman, president and chief executive of US drug major of Eli Lilly, warned that America's greatest competitive advantage - its "genius for innovation" - is in jeopardy. His speech focused on the USA's historic leadership in innovation and the policies necessary to ensure America does not fall behind as other countries gain momentum in the life sciences.

Calling the USA the "inventing nation" and citing the country's history of great innovators and life-changing inventions, Dr Lechleiter highlighted advances in medicine. "Medical innovation in the 20th century alone transformed the basic expectations of human life that had prevailed since the dawn of civilization," he said.

While the "USA is the undisputed leader in medical advances," Dr Lechleiter warned of the "danger that we are losing what has been America's greatest competitive advantage:  our genius for innovation." He also cautioned that, "despite all this progress, despite all these gains, the evidence is mounting that we are facing today nothing short of an innovation crisis in America's life-sciences sector."