A Prescription for Change in U.S. Health Care

Raymond V. Gilmartin
A Prescription for Change in U.S. Health Care
Raymond V. Gilmartin,  President, Chief Executive Officer and Chairman of the Board
Merck and Co., Inc.
Wed, Feb 23, 2005

The United States is moving toward tighter regulation of prescription drugs, a trend that may create a new dynamic within the pharmaceutical industry. The nation’s pharmaceutical industry has been at the forefront in the development of drugs that have significantly raised the health and longevity of the American people. Nevertheless, the industry may face the potential of major shifts in its relationship to government. The issues at stake include product development, long term innovation, and safety. Contrasting approaches underlying the public policy debate are whether to retain the current, relativity market-oriented model, versus a model that would entail significantly greater government regulation. What outcomes, in light of these issues, are most desirable in terms of the public interest? Finally, what research roles can be played by the State’s universities to facilitate pharmaceutical product development?

Prior to joining Merck in 1994, Raymond V. Gilmartin was chairman, president and chief executive officer of Becton Dickinson. He received a bachelor’s degree in electrical engineering from Union College in 1963 and an MBA from Harvard Business School in 1968. He serves on the boards of General Mills, Inc. and Microsoft Corporation. He is chairman of the Board of Directors of the United Negro College Fund and is a trustee of the Health and Leadership Council. He also serves on President Bush’s Export Council, where he has emphasized that American companies bring not only their capital, but also their values to world markets.