An Industry Under Siege Mounts Counterattack

The p harma c eutical i ndustr y faces a greater set of challenges today than ever before in its very successful history. Stakeholders from almost every conceivable corner are leveling criticism at the industry for the prices of its products, for its reliance on the United States to finance (through these higher prices) most of its research, and for its resistance to change ways that have long made it the most profitable sector in the U.S. economy. These and other complaints have become front-page news and primetime television fare, but the industry is certainly not taking the criticism without strong rebuttals on multiple fronts. The most visible recently was delivered by Sidney Taurel, CEO of Eli Lilly and Company, at the National Press Club. Taurel asserted: “Congress is weighing several legislative proposals that we believe have the potential to decimate innovation in pharmaceuticals.” Segments of the public and policy commu