Article based on notes by PIB coordinators. All event photos by ©Marcella Debidda.
The event was organized by PIB-Professionisti Italiani a Boston, a non-profit organization comprised of more than 500 Italian-speaking and 300 non Italian-speaking professionals in Boston.
Most of the event’s participants had a biomedical background, while others were from different extractions, including Giuseppe Pastorelli, Consul General of Italy in Boston, Henry and Julie Zunino, owner and manager of the candy producing company Strawberry Grand Delights, Francesco Daniele, vice president at the Debt Exchange, Dominic Ferrari, investor, and Elisabetta Vitali, consultant. PIB coordinator Giovanni Abbadessa moderated the event.
During the evening Andreotti recalled his career path: After holding top-management positions at Farmitalia Carlo Erba (CEO) and Pharmacia (President) he decided to take a Vice President position at BMS, to then climb up the career ladder again to the highest position.
A Q&A session included questions ranging from the impact of the U.S. Health Care reform on pharmaceutical companies to Andreotti’s typical day.
According to Andreotti, the US reform has a significant impact on the financials of pharmaceutical companies.
The BMS CEO also justified the prices of new pharmaceutical products, saying that companies invest huge amounts of money at risk in research, which very often do not translate into marketable products. Without an adequate return on investments, R&D funds will dry up and so would innovation in addressing unmet medical needs.
Andreotti also added that he is most interested in innovation and bringing new meaningful products to patients all over the world, without ever forgetting his other CEO duties which include -as very important- an adequate return-on-investment to the company’s shareholders.
Mr. Lamberto Andreotti is Chief Executive Officer, Director of Bristol Myers Squibb Co. Andreotti has been the company’s Chief Executive Officer since May 2010. He was the company’s President and Chief Operating Officer from March 2009 to May 2010. From March 2008 to March 2009, Andreotti served as Executive Vice President and Chief Operating Officer of BMS. From May 2007 until March 2008, he served as Executive Vice President of BMS and Chief Operating Officer of Worldwide Pharmaceuticals, a division of BMS. Andreotti served as Executive Vice President of BMS and President of Worldwide Pharmaceuticals from 2005-2007 and as Senior Vice President and International President of Worldwide Pharmaceuticals from 2002-2005.
PIB-Professionisti Italiani a Boston is a non-profit organization for professionals, entrepreneurs and researchers working in and around Boston who wish to organize, promote and participate in networking opportunities, both social and professional.