Harbus

Issue date: 2/11/08 Section: News

Centennial Healthcare Conference highlights (clockwise from top left): Nicholas Valeriani, J&J; Sidney Taurel, Eli Lilly & Company; Bob Langer, MIT. Medical Device panel. Tina Yu (OB) in keynote Q&A session.

As a $2 trillion industry and 16% of the US GDP, healthcare has sustained a significant growth over the past decade, and healthcare expenditure is predicted to double in the next 10 years. On the weekend of January 19, over 300 people, a mix of HBS, Harvard, MIT and other business school students, faculty, and business and health care professionals, gathered at the HBS campus to attend the Centennial Healthcare Conference. The goal was to create a venue for members of different health care communities, from payors and providers to entrepreneurs and VCs, to engage and interact with each other.

The conference kicked off in the morning with the keynote address delivered by Nicholas Valeriani, Chair of the Office of Strategy and Growth at Johnson & Johnson. Prior to his current position, Mr. Valeriani was the Worldwide Chairman of the Medical Diagnostics and Devices division of the company. He spoke about the convergence of medical technology towards a more consumer-oriented focus, meaning that devices will be
increasingly miniaturized, more portable, and better integrated with consumer products. Indeed, value in healthcare delivery will be enhanced by driving information technology towards remote monitoring and patient-driven care. The audience came prepared with questions for Mr. Valeriani, leading to an active discussion ranging from J&J's growth strategy to its role in creating affordable devices for developing countries.

In the afternoon keynote address, Sidney Taurel, Chairman and CEO of Eli Lilly & Company, gave us an engaging perspective on the challenges and opportunities faced by the pharmaceutical industry. The idea of blockbuster drugs driving company growth may become a thing of the past, and molecular diagnostics will help hone in on the development of targeted therapy for specific patient populations. Mr. Taurel cited several amusing personal anecdotes related to his tenure at Lilly and engaged a packed Spangler auditorium, answering questions on Lilly's leadership in pharma, and how he envisioned his company's future partnership with molecular diagnostic and biotechnology.

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