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Despite recent market upheavals, Sidney Taurel, CEO of Eli Lilly [LLY
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], says he is not convinced the pharmaceuticals sector will be negatively impacted.
“The pharmaceutical industry is not that affected by business cycles, and so I believe this financial and possible economic crisis isn’t going to affect significantly our company or the industry.”
In addition to changing business cycles, a changing political cycle is on the horizon. According to Taurel, this will only bring about marginal changes to his industry.
“I don’t believe we’re going to see a wholesale nationalization of healthcare. I think healthcare is such a deep topic and one with so many divisions that I don’t believe you can do in-depth reform without some bipartisan support. So what we’re going to see, I believe, is changes at the margin.
(contd.)
"We need, for example, in the U.S., to take care of the uninsured. I think that’s a pressing issue that all or most candidates are focusing on. We need innovation; there are many unmet medical needs.
"And I believe also that this country is very focused and very committed to free-market principles, and therefore I think will continue to have the appropriate incentive for innovation.”
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