2003 Other Charter: LLY
Science and Technology Committee Charter
The science and technology committee shall advise the board on scientific matters involving the company's discovery and development programs, including major internal projects, interaction with academic and other outside research organizations and the acquisition of technologies.
Composition and Term
The committee shall be composed of not less than three non-employee directors. The committee members shall be appointed for one-year terms at the annual meeting of the board. The chairperson shall be designated by the board.
The committee shall meet at such times as it determines to be necessary or appropriate, but not less than twice each year, and shall report at the next board meeting following each such committee meeting. The committee may meet privately with independent consultants and be free to talk directly and independently with any members of management in discharging its responsibilities.
Supporting Corporate Staff
Office of the corporate secretary
Duties and Responsibilities
The committee shall assist the board and management to stay abreast of new developments and new technologies and anticipate emerging concepts and trends in pharmaceutical research and development to assure the company makes well-informed choices in committing its scientific resources. In the discharge of its responsibilities, the committee will:
Review, evaluate and make recommendations to the board regarding the long-term strategic goals and objectives and the quality and direction of the company's research and development programs.
Review and make recommendations to the board on the company's major technology positions and strategies relative to emerging technologies, emerging concepts of therapy and health care, and changing market requirements.
Monitor and evaluate trends in research and development, and recommend to the board emerging technologies for building the company's technological strength.
Recommend approaches to acquiring and maintaining technology positions (including but not limited to contracts, grants, collaborative efforts, alliances and venture capital).
Periodically review the pipeline.