Innovation is paramount not just to the future of companies, but to developed societies, countries, and continents, Bayer AG Chairman Dr. Marijn Dekkers told the Chief Executives’ Club of Boston September 19. Robert Yates, president of EMD Millipore, introduced Dekkers.
Innovation ... [is] our core competitive weapon. We are, just like our competitors, big ... We have good employees—everybody has good employees. We have access to capital—pretty much everybody has access to capital. We’re all global. In the end, the real differentiating factor for companies like ours is our ability to innovate.
We are again at the verge of a tremendous breakthrough opportunity in innovation in pharmaceutical research ... [we] better understand at a cellular level what is happening, and what is driving certain disease patterns at a biochemical level.
There is tremendous pressure all over the world ... to bring down the prices for prescription drugs … The danger of pushing prices of prescription drugs down, down, and down is that at some point the business model to invest in these drugs—to develop them … will lose its attractiveness. In the end, the profits that we make on the current drugs really source and fund the [research and development] of the drugs in the future.
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