Lilly Statement Regarding President Obama's Meeting With U.S. Business Leaders

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Dec 15, 2010, 01:16 ET

INDIANAPOLIS, Dec. 15, 2010 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today issued the following statement from John Lechleiter, Ph.D., chairman, president, and chief executive officer about his meeting today with President Obama and other business leaders regarding economic growth, job creation, American innovation and competiveness:

"It's an honor to represent Lilly and the biopharmaceutical industry and take part in this very important dialogue today with the President and other leaders across many industries. Fostering an environment that encourages innovation is fundamental to American job growth. For instance, our industry has a long history of addressing critical medical needs through innovative research and discovery. We need policies that support and help sustain American innovation.

"We also believe that local innovation hubs – such as the life science hub we have in Indiana -- can serve as the fuel for national prosperity. From 2001 to 2007, employment in Indiana life sciences industries grew at more than twice the national rate. The annual wage of a typical life sciences job in Indiana is more than double the average wage in the state. And the total value of Indiana life sciences exports more than doubled between 2002 and 2007. I look forward to discussing how Indiana's success story can be used as a model for job growth.

"Ultimately, with public policies that provide the right environment, I'm convinced America can out-innovate anyone and create a new wave of good jobs here at home."

About Eli Lilly and Company

Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers – through medicines and information - for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com. C-LLY

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SOURCE Eli Lilly and Company