A Foundation of Trust

PhRMA 2008 Annual Meeting
March 28, 2008

There is much to be proud of about the contributions of the pharmaceutical industry. The world's medicine chest is filled to an extent that was unthinkable just a few decades ago. Millions live longer and better as a result of the inspired and dedicated work of our scientists. Vaccines are creating one of the greatest public health success stories in human history. New medicines for cancer and HIV/AIDS provide hope and help to many who never had hope and help before. And we can expect this progress to continue because our laboratories are involved in cutting edge research based on new and exciting information on the fundamental mechanisms of disease and health.

Yet, as we come together today, we know that our industry faces challenges that are not for the faint of heart.

Rapidly growing health costs globally are creating even greater pressures on reimbursement and utilization. The pressure to control overall healthcare costs is real even though pharmaceutical costs are being targeted well beyond their actual contribution to rising healthcare costs.

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