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Medical Innovation

The Importance Of Research And Development

Thank you, Senator Engle, for that introduction, and I'd like to thank ALEC for allowing me the opportunity to be here today.

Philadelphia has been the home of Wyeth Pharmaceuticals since 1860. In fact, many consider Philadelphia the birthplace of the modern pharmaceutical industry.

But this city not only has a great history, it's got a tremendous future-because this region is to the pharmaceutical and biotech industry what Silicon Valley is to computing. And it is my belief that it will be in biotech and the life sciences that the truly transformative breakthroughs of the 21st century will be made.

Because you know such breakthroughs don't just happen. They aren't preordained. They require the kind of political, legislative and social constructs that promote opportunity and enable invention. This is why organizations such as ALEC are so important.

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