Few points from interview that stood out for me...
Q. What is the Challenge for J&J?
The challenge for us is to find innovation which is so good that it can be done in a very acceptable and cheaper way that is accessible to millions of people in the world.
In our industry you have to think hard on how can we bring medical innovation on a large scale in the world making a real difference and that is a fantastic opportunity.
Q. What are the threat/s that are emerging within the pharmaceutical industry?
Innovation - where J&J invest for 5, 10 and even 15 years out, whereas the capital markets are looking at the next quarter or next two years out. And that's a threat where in this moment where the financial markets are so volatile and so different to read and probably the economic stability is far from there and therefore investing in the long term becomes a problem and therefore biotechnology companies today have a lot of challenges to attract capital. Now the big threat in our industry, if capital gets away out of our industry then for society the tool of the machine which brings new innovation in healthcare dissapears or gets much less effective and I think that's the big threat on the lack of capital flowing into companies especially to the biotechnology companies and the market not understanding very long investment times for products...so that's the challenge but I think we have ways to deal with that.
Q. In the end how do you view the future for the pharmaceutical industry?
A. I think the future is great and is good because we'll find a way in order to focus on those innovations which may bring the biggest value to society and that will always be respected. If we will bring new cancer therapies which cure 50% to 100% of people with cancer, society will respect that and we'll be rewarded for it and that is where we as a pharmaceutical industry has to focus on this i.e., how can we make and create benefits for society and that is a great opportnity and great challenge to tackle.
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(20min delay)