Eli Lilly CEO asks: 'Are we getting our money's worth from medical innovation?"

The value of medical innovation - particularly innovative medicines - far outstrips its cost, according to John Lechleiter, chairman, president and chief executive of US drug major Eli Lilly (NYSE: LLY), speaking to the Dallas Friday Group last week. Dr Lechleiter marshaled data showing that medical innovation over the past century dramatically extended life spans, improved quality of life, and boosted productivity.

So far, the health care debate has revolved around access, quality, and cost - all of which need to be addressed, said Dr Lechleiter, adding: "But, we'll never improve in any of these areas - in fact, we risk going backwards - without taking into account two fundamental game-changers: “innovation and value."