john lechleiter. thank you for ginning us. >> my pleasure.let's start out with the broad question about the industry, because this really is sort of the sentiments for the year ahead. this has been a tremendous few years for biotech and pharma. can that momentum continue? are you optimistic about 2015? >> i'm optimistic about 2015 but then again, a few years ago when everybody wasn't so optimistic, i was. i think we're now seeing the outcomes from a lot of this great science, a lot of the new technologies that have evolved in the last several years. so i think it's quite promising for the industry not only in 2015, but in the longer term as well. >> and talking about eli lilly specifically, you guys have gone through a period of patent expiration. what are you most excited about in your pipeline of new products that's beginning to replace that revenue? >> as you said, in the last several years, we've lost the -- essentially seen the patents expire on four of our largest products. we're sort of coming out of that period now. we've kept a stead

eli lilly's ceo john lechleiter is one of them.e is in our san francisco bureau along with our health care reporter. why don't you get things started. >> good morning. dr. john lechleiter, we are talking to health care investors. tons of excitement. people are trying to figure out what the next good looks like. a huge part of biotech is early-stage money. you work with venture capitalists as well. what is the attitude after a record year of m&a, tons of ipos . from where you sit, where is the money going? >> as you mentioned, we have an entity where we come invest with -- we come invest -- we coinvest. we also have an entity that focuses on china. i've had a chance to talk with venture investors. i think there is a general sense of optimism with the ipo situation being very positive in 2014. a lot of the investors were able to exit investments. the science, as i've been saying has never been more exciting. you are seeing more opportunities to invest. >> where are your guys talking about putting their money. we've seen a year in can

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