Innovation and Financialization in Pharmaceuticals - Economist Dr. William Lazonick - November 12, 2019

A fireside chat on the financialization of the pharmaceutical industry and its effects on drugs by Economist Dr. William Lazonick. The event is organized by the Center for Integration of Science and Industry and the Health Thought Leadership Network. Dr. Lazonick’s influential work on the financialization of American industry and the impact of stock buybacks on innovation include his 2014 article in Harvard Business Review titled “Profits without Prosperity” hbr.org/2014/09/profits-without-prosperity, which won the McKinsey Award for outstanding article in HBR in 2014. His views were recently featured in an article in New Yorker Magazine www.newyorker.com/business/currency/the-economist-who-put-stock-buybacks-in-washingtons-crosshairs.