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2024 Concordia Leadership Award: Dr. Albert Bourla, Chairman and CEO, Pfizer, Inc.

SpeakerS:

Dr. Ian Bremmer, President, Eurasia Group
Dr. Albert Bourla, Chairman and CEO, Pfizer Inc

“Our culture was articulated in four values, four words: courage, excellence, equity, and joy.” Dr. Albert Bourla
“We're in an environment right now globally where the structures are changing, the balance of power is changing, the institutions are changing, the challenges are changing, but culture is sticky.” Dr. Ian Bremmer

Key takeaways:

  • Importance of a favorable regulatory framework for innovation: Dr. Albert Bourla emphasized that significant investments in scientific research for diseases like cancer require a supportive regulatory framework that fosters innovation within the pharmaceutical industry.  
  • Global trade tensions impacting healthcare delivery: The increasing use of sanctions and tariffs as operational political tools affects global trade and international relations, and can disrupt supply chains and hinder the delivery of low-cost medicines, even though drugs are often exempt from these sanctions. 
  • Role of business leaders in addressing societal issues: With politicians experiencing low credibility and trust among the public, business leaders have higher trust levels and a potential responsibility to address societal issues and influence policies without engaging in partisan politics. 
  • Need for leadership to counter political polarization: Dr. Bourla called for leaders from both parties to counter extremism and promote common-sense solutions to improve the political environment in the U.S.  
  • Rebuilding trust in the pharmaceutical industry: The pharmaceutical industry faced significant criticism before the pandemic, Dr. Bourla highlighted that Pfizer’s innovations during the pandemic helped improve public perception, stressing the need for ongoing transparency and innovation to maintain trust. 

Action items:

  • Advocate for supportive regulatory policies: Engage with policymakers to develop and maintain regulatory frameworks that facilitate innovation and substantial investments in scientific research, enabling the discovery of cures for critical diseases.
  • Monitor and mitigate global trade challenges: Stay informed about international trade developments, including sanctions and tariffs, and develop strategies to ensure that essential medicines remain accessible worldwide, particularly in underserved regions.
  • Leverage business leadership for positive change: Utilize the higher trust placed in business leaders to influence policies that enhance public health and societal well-being. Participate in policy discussions while remaining non-partisan and focused on the greater good.
  • Promote bipartisan efforts to reduce polarization: Encourage collaborative initiatives between political parties to address common challenges by supporting leaders who prioritize unity and practical solutions over extremist positions.
  • Enhance public trust: Commit to transparent communication and demonstrate the value of pharmaceutical innovations to build trust with society. 

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