Lilly Statement on PDUFA Vote by Senate

Published on Tuesday, 26 June 2012 17:32 Written by TradersHuddle Staff

INDIANAPOLIS, June 26, 2012 /PRNewswire/ -- Following is a statement from John C. Lechleiter, Ph.D., chairman, president, and chief executive officer of Eli Lilly and Company (NYSE: LLY), regarding today's Senate vote on S.3187 to reauthorize the Prescription Drug User Fee Act (PDUFA):

"The vote to reauthorize PDUFA is a welcome development and represents an important step forward for medical innovation.

"Thanks to broad bipartisan support of Congress, the FDA will continue to have the necessary resources to review potential new treatments. The new law will make the review process more timely, balanced and efficient, including a strengthened framework for evaluating the benefits and risks of new treatments.

"Since its inception in 1992, PDUFA has enabled the FDA to shorten review time from new drug applications by 60 percent. As a result, patients in the U.S. have had speedier access to more than 1,500 new medicines to treat medical conditions such as cancer, diabetes, cardiovascular disease, and neurological disorders.

"PDUFA will keep our nation at the forefront of medical innovation and allow us to continue delivering new medicines that help patients live longer, healthier, and more productive lives. We look forward to the President's signature on this legislation."

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

(Logo: http://photos.prnewswire.com/prnh/20031219/LLYLOGO )

SOURCE Eli Lilly and Company