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来源:华融金控去年亏损15.48亿元不派息  作者:   发表时间:2019-10-23 05:07:37

  Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.

  Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.

  SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.

  I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.

  Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.

  Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.

  WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.

  Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.

  Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.

  Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.

  WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.

  Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.

  InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.

  Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.

  InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.

  Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.

  Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.

  InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.

  InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.

  I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.

  SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.

  Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.

  Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.

  Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.

  Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.

  Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.

  SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.

  I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.

  Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.

  A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.InSeptember2015,the193MemberStatesoftheUnitedNationscametogethertocreateaplanforachievingabetterfutureforall.Theirgoalisanambitiousone—theywanttohelpendextremepoverty,fightinequalityandinjustice,andprotectourplanet.Thisproposaliscalled“Agenda2030”andiscomprisedof17SustainableDevelopmentGoals(SDGs)whichclearlydefinehowtohelpcreateabetterworld.FulfillingtheseSDGswilltakeanunprecedentedeffort,andforbusinesstheyrepresentanopportunitytobenefitsocietywhilegrowingandsustainingourbusiness.

  Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.

  A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.

  A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Vaccinationisconsideredoneofthegreatestpublichealthsuccessstoriesofthelasttwocenturiesandhashelpedpreventmillionsofcontagious,andinsomecases,life-threateningdiseases.Globally,vaccineshaveeradicatedorsignificantlydecreaseddiseases,suchassmallpoxandpolio.Whileitisimportanttorecognizeandrememberthepastachievementsofvaccination,wemustcontinueourworktoaddresschallengesthatstillexisttoday.Ourincreasinglyinterconnectedworldcontinuestocreateanumberofchallengesforinfectiousdiseaseprevention,andeachdayourscientistsworktodiscoveranddevelopnewvaccinesandapproaches.Seriousdiseaseoutbreaksforceustorethinkhowweaddressandprepareforpotentialglobalpandemics.Andthethreatofemerginginfectiousdiseaseschallengesustofindnewvaccineswherepreviouslynoneexisted.Weneedtocontinuetofocusonthemostpromisingsciencetoaddresssignificantunmetneedsaroundtheworld.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.

  A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.

  Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.

  SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.SupportingvetsisbothaprofessionalandpersonaldutyformeasI,too,amaveteran.IjoinedtheU.S.ArmyMedicalCorpsduringmedicalschoolandaftergraduation,IdidmyinternshiptrainingatLettermanArmyMedicalCenterduringthefirstIraqwar(OperationsDesertShieldandStorm).DuringtheSomaliaengagement(OperationRestoreHope),IledtheadultoutpatientclinicatFortMyer,Va.throughtheendofmymilitarycommitment.Iwasprivilegedtotreatactivedutysoldiersandtheirfamiliesdealingwiththeconsequencesoftheseoverseasmilitaryengagements.ThemilitaryisthemostdiverseorganizationI’veeverworkedfor.Itattracts,cultivatesanddevelopstalentfromeverywalkoflife.Everysoldierwasinvaluabletothesuccessofthemissionnomatterwhatrankorrole.Courageousleadershipwasdemonstratedeverydayinunexpectedwaysandplaces.Thediscipline,experienceandfocusofthesemenandwomenareremarkableassetsforanysector,whetherprivateorpublic.Bringingveteransintoourcompanyisanopportunitytoleverageandbenefitfromdiverseperspectives,experiencesandleadershipcapabilities,enrichingourorganizationateverylevel.SupportingtheVeteran'sEBRGhasallowedmetoconnectwithveteransfromawiderangeofrolesandgeographies.I’vemetveteranswhohaveservedourcountryduringtimesofconflict,andI’vemetstaffwhosefamilyandfriendsincludethosewhohaveserved.ThroughtheleadershipofAmyThurstonandtheVeteran'sEBRG,MSDisacknowledgedandrecognizedasaleaderinemployingandsupportingveterans.

  A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.

  A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.A2015studybyTheHackettGroupstatesthatonaverage,supplierdiversityprogramsadd.6milliontothebottomlineforeverymillioninprocurementoperationcosts.Investingindiversesuppliersdoesn’tjustmakeeconomicsense;webelievethatithelpsgrowtheeconomy,createemploymentopportunities,andmakethecommunitiesinwhichwelive,workandoperatebetterforall.Italsobenefitsourcompanytobetterunderstandandanticipatetheneedsofthepeopleweserve.Ourpatientsarenotfromjustoneraceorreligionornationalityorbackground—weprovideforeveryone.Oursuppliersshouldreflectthepeopleweareinbusinesstoserve...ourcustomers.SinceMSDstartedthisprogramin2005,wehaveseenatremendousoverallgrowthofourprogramglobally,andintheU.S.,inparticular,where,in2017,weachievedmembershipintheBillionDollarRoundtable(BDR)–anorganizationthatrecognizescorporationswhohavebeenabletoachievebillionofannualspendwithwomen-owned(WBE)andminority-owned(MBE)enterprises.MSDisoneof27companieswhohavereceivedthisstatus.Whileweareproudtoberecognizedasaleaderintheareaofsupplierdiversity,thatdoesn’tmeanwecanrest.Welookcontinuouslyforwaystoexpandandimproveourprogramandtohavegreatereconomicimpactaroundtheglobe;that’snotjustgoodforourlocalcommunities,it’salsogoodforbusiness.aboutMSD’sworkinthisarea.Thisisn’tjustaboutpills–wearealsoworkingtobringbiosimilarstomarketasalternativestoexistingbiologictherapies.Biologics(ofteninfusiblemedicines),includingnewtreatmentsforarthritisandcancer,havebroughtincredibleadvancestopatients,butuntilrecentlytherehaven’tbeenwaystobringforwardlower-costversions.Nowthatthereisaregulatorypathway,MSDhasintroduceditsfirstbiosimilarintheU.S.forthetreatmentofrheumatoidarthritisandotherapprovedindications.UponitslaunchinJulyof2017,wemadethismedicineavailableat35percentbelowthelistpriceofitsreferenceproduct,whichwillenablesignificantsavingstoconsumersandthehealthcaresystem.All-told,lowerspendingongenericversionsofbrandeddrugs,plusnewbiosimilars,areexpectedtodrivesavingsof0billiondollarsintheU.S.overthenextfiveyears.Theremaybenootherindustryandnoothermodelthatcreatessuchroomforinnovation.TheonlywayforAmericanstobenefitfromnew,breakthroughinventionsthatcansomedaybecomegenericorbiosimilarmedicinesisforcompanieslikeMSDtoinvestinRDtofindthenexttreatmentsforcancer,fordiabetes,forAlzheimer’s–whichiswhatwedo,yearafteryear,withnearlybillioninvestedinRDin2016alone.It’sadifficultbusinesstobesure,butonethatwecontinuetobelieveisworthit.

  WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.

  WedecidedtopartnerwithNIVI’svisionarycreatorsandinvestinitsdeploymentbecausewesawitspotentialtoempowerwomenlikeLoisetomakeinformedchoicesandtakecontroloftheirreproductivehealth.WeinvestedinNIVIbecauseitrepresentsthepowerofdigitaltechnologytotransformhealthcareinemergingmarkets,bybridgingcriticalgapsininformation,equityandquality.WithNIVI,we’releveragingbasicmobilephoneandtextingcapabilitiesnodataplan,computerorhigh-speedInternetconnectionrequiredtoaddressthehighunmetneedforfamilyplanningincountrieslikeKenya,andindoingso,supportMSDforMothers’missiontoimprovematernalhealthoutcomesandreducematernalmortality.Theinsightswegainfromtrackingtheuseofthesetoolsandtechnologiesallowsustodeepenourunderstandingofthechallengesmothersandtheircaregiversface,andleveragethatknowledgetorefinethesesystemsandplatforms,increasetheirvalueandmaximizetheirimpact.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.I'malsopleasedtosharethatthispastJune,morethan175seniorexecutivesfromvariousindustriessignedontothe.TheintentionwastounitethebusinesscommunityinfurtherweavingDIintothefabricofourcompanies.Executivespledgedtorecognizeandovercomeunconsciousbiases,createatrustingenvironmentwheredifficultconversationscantakeplace,andsharethestoriesofDIsuccessesandlessonslearned.MSDpledgedsupportbecausewebelievetheseDIgoalsareimportantandattainable.Thepowerofdiversityandinclusionisreal.IseetheeffortsandeffectsofDIeveryday.Weareallshapedbyourbackgroundandpreviousexperiences.Forexample,theexperiencesofmyyouthandeducation-particularlythelessonsmyfathertaughtmeaboutrace,stigma,passionanddetermination-createdafoundationformypointofview,andperspectiveonarangeofissues.

  Fewinnovationshavehelpedasmanyastheadventofthemodernclinicaltrial,especiallyincancerresearch.Withouttheseimportantstudies,doctors,regulators,patientsandcaregiverswouldnotbeabletodeterminewhatkindsofmedicinesmayhelppatients,orthepotentialrisks.Whiletheideathatwecancarefullyevaluatenewmedicinesistakenforgrantedtoday,theclinicaltrialasitisunderstoodtodaydatesbackonlytothe1940s.Priortothattime,hucksterscould–anddid–pushuselessorharmless“cures”onanyone.It'snocoincidencethatthegreatleapsforwardinmedicine,suchasantibiotics,arecloselylinkedwiththeadoptionofclinicaltrialsasthegoldstandardforunderstandingamedicine’seffects.Thebasicfoundationsoftherandomized,blindedclinicaltrial–comparingdifferentgroupsofotherwise-similarpatientsandensuringthatneitherdoctornorpatientisawareofwhoreceiveswhattreatment–haveproventheirvalue.ButourrecentworkatMSDisfocusedonensuringthattheclinicaltrialssystemadvancesandworksmoreeffectively.Quicker,smarterwaysofconductingclinicaltrialsmeansthatwecananswerscientificquestionsmorequicklyandmoreconfidently,allowingmorepatientsaccesstomedicinesthatmaypotentiallyhelpthem.Insomecases,wehaveworkedcloselywithregulatorstomodifyongoingtrialstoenrollmorepatientsandgathermoredata.NewFDArulesaround“breakthrough”productshaveallowedmorecollaborationwiththeFDA,andthiskindofcollaborationhashelpedMSDandothersinthepharmaceuticalindustrytoquicklygatherthedataneededtodemonstratethepotentialbenefitofnewtreatmentoptions.Whileimportantprogresshasbeenmadeandrecenttherapeuticadvancesacrossanumberofnovelpathwayshavechangedtheparadigmformanypatients--cancerremainsaformidablefoe.Thekeytotransformingthetreatmentofcanceristocontinuouslypursuediscoveryandclinicalresearchthatwillallowustohelpasmanypatientsaspossible.Withthatinfocus,MSDisadvancingabroadoncologydevelopmentprogramthatisexploringover20differentnovelmechanisms.Thisincludesresearchdesignedtobetterunderstandhowtodeployourmedicinestothegreatesteffectandidentifyingthosepatientslikelytobenefitmost.Weknowthatcancerdoesn’thaveasinglecauseorprogressalongasinglepathway,sowewilllikelyneedtoattackitinmultipleways.Advancingthisgoalrequiresdriveandresiliencetobuildandexpanduponwhathasbeenachievedtodatewithafocusonimprovingthelivesofpatients.Wehaveestablishedastrongfoundationandareexcitedtobeleadingthechargeintothefuture.Incorporatelife,somanybuzzwordsgetthrownaroundsoquicklythatit'shardtokeeptrack.There's"synergy"and"scalable,""bestpractice"and"leverage."Thelistisendless.Andalthoughthephrase"diversityandinclusion"canbelostinthemazeofcorporatejargon,Idon'tthinkdiversityandinclusionisabuzzwordatall.Rather,Ibelievewhatdiversityandinclusionstandsforisessentialtobusinesssuccess.HereishowIdefinethemastheyrelatetoourcurrentworkforce:Makingsureyourworkplaceemploysindividualswithdifferentbackgroundsandperspectives.Makingsureallemployeesfeelvalued,respectedandgivenaccesstotheopportunitiesthathelpthemgrowintheircareersandenablethemtoaddvaluetoourbusiness.Inmanyways,itisabout"bringingourwholeselvestowork."Wewanttomakesureeveryemployeefeelsvalued;thattheyneverhavetohidewhotheyare.Ifirmlybelievethatdiversityandinclusionaren'tsimply"nice"virtuesforacompanytohaveorboxesforustocheck—theycreatesuccessbothinourbottomlineaswellasinfosteringahappy,healthy,andinvestedworkforce.Iseethisinactioneveryday.AstheleaderofMSD'sGlobalDiversityandInclusionorganization,IworkwithMSD'sleadersacrosstheglobetoensurethatdiversityandinclusionarewovenintothefabricofourbusinesstocreateacompetitiveadvantageforourcompany.Beingthenation'ssecondlargestpharmaceuticalcompany(andtheseventhlargestworldwide),weknowthathavingadiversemindsetisnotjustaniceaspiration—it'sanecessity.Ourcurrentworkforceandmarketplacearemorediverseandglobalthanatanypointinourcompany'slengthyhistory.Themostraciallyandethnicallydiversegenerationeverhasenteredtheworkforceandisexpectedtomakeuphalfoftheglobalworkforceby2020.ThisdynamicdemandsaverydifferentMSDhereandabroad—onethatunderstandsandcanhelpaddresstheneedsofanincreasinglydiversebaseofpatients,customers,employeesandsuppliers.Nowhereisthismoreimportantexternallythaninourclinicaltrials.Clinicaltrialsarecriticallyimportantresearchstudiesthattesthowwellnewmedicalapproachesworkinpeople;theyareattheheartoftheprocessforbringingnewmedicinestopatients.Butalargepercentageofclinicaltrials,regardlessofthedisease,arecomposedofwhitemales.

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