Transcript Bedside to Bench to Bedside - Medtronic, World Leader in

Presenter Disclosure Information
William Hawkins
Chairman and CEO, Medtronic Inc.
FINANCIAL DISCLOSURE:
Chairman and CEO, Medtronic Inc.
UNLABELED/UNAPPROVED USES DISCLOSURE:
N/A
Collaboration, Innovation and
Restoring the Public Trust
Bill Hawkins
Chairman and CEO, Medtronic
November 16, 2009
Medical technology has enabled remarkable advances
in the treatment of chronic diseases
DEATHS PER 100,000
60% reduction!
External pacemaker
Implantable cardiac pacemaker
Heart valves
Insulin pumps
Balloon angioplasty
Transvenous leads
Implantable defibrillator
Perfusion systems
Cardiac resynchronization
CAT scan
MRI & advanced imaging
Coronary stents
Beating heart surgery
YEAR
Collaboration is vital to the medical technology “innovation
ecosystem”
Clinical
Community
Regulators
Policymakers
Hospitals
Academia
Industry
Advocacy
Medical
Associations
Physician-industry collaboration plays a critical role
Invention and
New Ideas
Selection
Criteria and
Indications
Implantation
Techniques and
Technologies
Clinical
Insights
Physician
collaboratio
n
Long-term
Performance
Assessment
Product
Improvement
Clinical Trials
and Regulatory
Support
Training and
Education
Many of today’s most important medical devices are the
result of collaborative innovation with physicians
Diabetes
Cardiovascular
Disease
Cardiac Rhythm
Disorders
Neurological
Disorders
Spinal Conditions
Musculoskeletal
Trauma
This is particularly true in the areas of education and
training and essential to the well-being of patients
• Different from pharmaceuticals
• “Bedside to bench to bedside”
• Therapies are sophisticated
and procedure-based
• Expert training optimizes
therapy effectiveness
• Demanded for patient safety
Trust in this model has been eroded as a result of highly
publicized conflicts of interest
TUESDAY, MAY 19, 2009
TUESDAY, AUGUST 18, 2009
Probing Doctors’ Ties to Industry
By Ibby Caputo
Senator Asks About Doctor
Who Army Says Falsified G.I. Study
By Barry Meier and Duff Wilson
JUNE 21, 2009
Side Effects
Are Doctors’ Loyalties Divided?
Faculty disclose outside payments
Some UW doctors get 6-figure sums
from drug, medical firms
JAN. 27, 2009
Lawmakers Reintroduce Bill
on Industry-Physician Gifts
By John Fauber
April 29, 2009
Senator Chuck
Grassley News Release
JAN. 22, 2009
Grassley works to disclose financial ties
between drug companies and doctors
Report decries drug makers’ perks
for MDs; Providers of care are urged
to shun financial benefits
By Matthew Perrone
Medtronic has always been a leader in this area
• Aligned with our mission
• Defines our culture and values
• Cornerstone of our ethics and compliance
program
• Provides clear policies and guidance for
business practices, including our customer
interactions
• Required for all employees worldwide
• Early champion: AdvaMed Code of Ethics
As an industry we have made progress…
Edwards Lifesciences to Disclose Financial Relationships with U.S. Physicians
Medtronic to Voluntarily Disclose Payments to U.S. Physicians
Eli Lilly to Launch Physician Payment Database
Physician Payment Sunshine: Merck Joins the Act
…but we can and MUST do better
The Physician Payments Sunshine Act
An important first step towards transparency
Key component of healthcare reform
Levels the playing field
Provides a uniform standard
Proprietary information must be protected
Our evolving approach will continue to reinforce the
benefits of collaboration while restoring the public trust
Improved
Patient
Outcomes
Innovation
[
REINFORCE
REINFORCE
[
Collaboration
We will continue to lead consistent with a set of principles
that will guide our path forward
Principled basis for industry and physician collaboration
Sanctity of MDpatient
relationship
Defined needs
and roles
Minimize biases that could affect the objectivity required
for optimum medical decision making
All physician roles will be defined and disclosed to
demonstrate their intentions
All work will meet pre-specified needs
Transparency
and external
oversight
Physician activity will be documented and disclosed
to the public
Engage objective external medical, social, and
ethical experts to review our practices
It’s not just about “Public” trust, it’s about THEIR trust
Angelina Henderson
U.S.
Cardiac Resynchronization
Therapy to treat congestive
heart failure
Lina Tedesco
Italy
InterStim Therapy
to treat voiding dysfunctions
Chima Miyaori
Japan
Microdebrider to remove
tonsils causing sleep apnea
David Mangram
U.S.
Intrathecal Baclofen Therapy
to treat symptoms of stroke
Renan Altendorff
Brazil
Insulin pump to control
diabetes
Irene Chettiar
India
Activa DBS Therapy
to treat Dystonia