The push for personalized medicine, an emphasis on scientific advances and flourishing research into rare diseases suggest that the U.S. biopharmaceutical industry could be on the brink of a renaissance in drug research and development, writes Eli Lilly and Co. CEO John Lechleiter, who serves as chairman of PhRMA. An all-time high number of new drugs are in human testing, and more drugs are being developed for diseases without approved therapies in the past 10 years, Lechleiter writes.

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