Dr. Lechleiter Looks Beyond the Fiscal Cliff in Forbes Column

Dr. Lechleiter Looks Beyond the Fiscal Cliff in Forbes Column

12.13.12 | By

As the clock ticks closer to the end of the year, the fiscal cliff negotiations are anticipated to run through the holidays. In his latest column for Forbes, PhRMA Chairman and Eli Lilly President and CEO Dr. John Lechleiter talks about how biopharmaceutical innovation can contribute positively to our long-term fiscal solvency beyond the current cliff - so long as it isn't inhibited by "short-sighted efforts to close the budget gap."

Dr. Lechleiter points to two trendlines - health care costs and economic growth - that the budget deficit will depend on moving forward. Combining the savings that are realized from Medicare spending on medicines with the contributions of medicines in preventing and treating disease, he states that biopharmaceutical innovation is the "best hope" of providing better health care and holding down costs. Dr. Lechleiter goes one step further in highlighting the economic strength of the U.S. biopharmaceutical sector and how certain proposals could result in hundreds of thousands of lost jobs and reductions in R&D investment in new medicines.

Read more in Dr. Lechleiter's op-ed; he makes a strong case that medical innovation can't be starved in the name of short-term fiscal targets. It's simply a "counterproductive approach."

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