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Problems and Possibilities in thePharmaceutical Industry

Opportunities And Threats To American Healthcare And Innovation

Thank you, John, for that kind introduction. And thanks also to the National Italian American Foundation for inviting me to take part in this Series of Distinguished Lectures. To be asked to take part in an event that has featured so many Washington men and women whom I admire ... It's a true honor. And it is a pleasure to be speaking to a room full of people whose names also end in a vowel.

When I was invited, I knew that I wanted to give you some perspective on the industry I represent-the pharmaceutical industry. But I am mindful of something Enrico Fermi said after hearing a lecture by one of his colleagues. Fermi observed: "Before I came here I was confused about this subject. Having listened to your lecture I am still confused. But on a higher level."

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