Originally published February 26 2006
Big Pharma exec says drug approval process is too long because of attention to side effects
by Mike Adams, the Health Ranger, NaturalNews Editor
Chief Executive of Eli Lilly Sidney Taurel disputes the legitimacy of the attention surrounding the side effects of new drugs.
The side effects of new drugs are receiving more attention than they deserve, said Eli Lilly & Co. (LLY.N: Quote, Profile, Research) Chief Executive Sidney Taurel on Thursday, unnecessarily delaying the regulatory approval process.
Asked in an interview why regulators have slowed down the approval of new drugs, Taurel told Reuters there was too much emphasis on drugs' side effects, as opposed to their benefits.
"This is the result of a huge focus that politicians and the media have put on the side effects of drugs," Taurel said on the sidelines of the Business Council meeting being held here.
"We are trying to move this debate toward some sanity," Taurel said, adding that drug companies are working with the U.S. Food and Drug Administration to set up a framework for assessing risk that could be based on models in aviation or highway safety.
"The health care system in the U.S. suffers from problems of cost, of quality and of access."
The survey of 82 chief executives by the Business Council and The Conference Board, released earlier on Thursday, said that overall they were quite optimistic about the U.S. and global economies, but that health-care costs were a barrier to hiring and the top policy concern.
"We have to move in the direction of creating better market conditions to improve quality and reduce costs," Taurel said, adding that the choice was between creating a single-payer system -- similar to that in Europe, Canada, or Japan -- or a system where patients take on more financial responsibility.
The survey, which found that optimism about overall business conditions was growing, called health care costs a "major obstacle" to taking on new workers, with 42 percent of respondents subscribing to that view.
All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing LLC takes sole responsibility for all content. Truth Publishing sells no hard products and earns no money from the recommendation of products. NaturalNews.com is presented for educational and commentary purposes only and should not be construed as professional advice from any licensed practitioner. Truth Publishing assumes no responsibility for the use or misuse of this material. For the full terms of usage of this material, visit www.NaturalNews.com/terms.shtml