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History as a leader in medical technology innovation will deliver healthy gains to the bottom line and he is of course.
Watching the health care battle very closely it's an exclusive interview we have Robert -- chairman and CEO.
Of Perkin Elmer joining us now and had it for a global manufacturing -- life sciences industry.
Here at what -- 150 countries how important is what happens in Washington to you when your profits in the coming years.
Plus I think it's important -- see what goes on Washington but I think you know I think about health care there's probably early two key component to it.
First -- we've got to make sure that we're getting the uninsured.
Insured now so -- -- so everybody has access to medical care but I think the more important -- he's very on the cost side.
-- I think about reducing the cost of health care really gets down to.
Making sure that were improving our diagnostic tests which is an area that.
Were quite -- particularly -- you weren't screeners because I think.
It's been proven on a number of occasions and a lot of studies of said that the earlier that you can detect the disease the cheaper isn't tree and actually better the outcome.
I think politician that you do with your -- you've got -- environmental and also the life sciences I mean do you find that the environmental work that you're doing.
Clearwater for instance helps you with the life science side of the business are they completely separate.
It does I mean clearly having clean -- has implications on health but the way I would really think about PerkinElmer is almost is like a global detective.
Where we sort of find and prevent threats to both human health and environment while.
And really doing three major areas as you pointed out the environmental area were really looking to make sure we have done.
Air water and -- and food and consumer products on the diagnostic side we're really focused on is making sure that we're providing medical insight earlier.
And -- -- and then of course on the drug discovery cited for using our detection capability.
To enable pharmaceutical companies Biotech academic researchers discover a new drugs faster.
One of the number one the things that people come up with when they talk about how to cut down on costs as they say doctors are ordering too many diagnostic test.
I hear what you're saying you're saying your newborn diagnostic tests can save money down the line because they will diagnose something earlier on you -- it and it doesn't become such an -- right nightmarish problem.
But how do you then get that message out that it is a diagnostic test.
That can actually bring down costs but would you also agreed that doctors have to order too many to think -- -- right -- to get some mayors particularly imaging area I think is an area where people have been probably ordering too many tests.
But I think horizon -- those types of things but I think on -- on the diagnostics -- give example I'm about 22 dollars.
-- happen is what we should the United States in many diagnostic testing -- about 3% of our health care span.
When you think about -- -- trillion dollars and maybe sixty billion of that going to diagnostic testing its relatively low.
But in a newborn screening area we're really seeing dramatic.
A payback for that you know so what we do there is we test for about maybe about fifty disorders.
In the key is if you could detected early enough.
You can effectively cured by their diet or drugs so give -- example in.
Hyper thyroid isn't is is is a disorder it is about one in 3000 births.
And we have a test that is able to detect that very early on birth you were able to give the child.
Relatively inexpensive drug and consequently it it as a child grows up to be a normal.
Adult if not detected it ends up in severe.
Mental development issues and so those are the types of paychecks that are fairly dramatic we're talking about tests that are under an hour.
It -- associates it would acquisitions you make sure -- biceps 309 and acquisitions potentially Kelly to see where they are yeah they are in those three areas it's going to be in the diagnostic carry the researcher environment because I think in this environment I think what you're seeing is.
You know pretty pretty low -- on an -- -- bases good financing.
Opportunities I think the key is those CEO confidence is returning so I think are opportune time and brought her frail the camera video of Perkin -- based in Waltham Massachusetts practicing very ethnicity -- -- welcome any time we've come back at our.
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