Eli Lilly To Build Trust, Will Disclose Payments To Doctors

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(INDIANAPOLIS) - Eli Lilly CEO John Lechleiter unveiled the company’s strategy for growth through innovation during an Economic Club of Indiana luncheon.

Lechleiter says their are three "800 pound gorillas" the pharmaceutical giant faces: an image problem, an innovation drought and a reduced stock price.

He says Lilly will build trust by being more open and transparent about their business. He said the company will be the first major pharmaceutical company to begin voluntarily disclosing their payments of $500 or more to doctors for the speaking and consulting services they provide.

But Lechlighter says innovation will drive their core business. He's excited by the idea of tailoring therapies for individual patients. He says tailoring will vastly increase the therapeutic value of their products. That will reduce costs by eliminating medicines that don't work earlier in the research and development phase.

Lechleiter said Lilly's shareholder value will increase by accelerating the flow of innovative medicines and by providing improved outcomes for individual patients.

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