THE VALUE OF MEDICAL INNOVATION: SAVING LIVES, SAVING MONEY
HINJ President and Chief Executive Officer Dean J. Paranicas has authored an op-ed on the life sciences and the value of medical innovation.
“Medical innovations produced by American life sciences companies have vastly improved the human condition. Our pharmaceutical, biotech, medical technology, device and diagnostics companies have helped people live longer, with less pain and greater quality of life.
“Over the past century, the life sciences has eradicated some of the world’s most dreaded diseases such as polio and smallpox. More recently, the industry has made other diseases such as breast cancer, HIV/AIDS, heart disease and lung cancer no longer the death sentences that they once were.
“Collectively, new therapies are the greatest contributors to increased life expectancy. According to the National Bureau of Economic Research (NBER), between 1960 and 1997, new therapies accounted for 45 percent of the increase in life expectancy in 30 developing and high-income countries. Between 2000 and 2009, new therapies accounted for 73 percent of the increased life expectancy for these countries.
“With these medical innovations, past and future, comes an often-overlooked benefit: the incalculable billions of dollars in savings to patients, their families, insurers, employers, governments and hospitals in avoided medical expenses associated with keeping people healthy or curing them of a life-long, chronic condition.”
HINJ LAUNCHES ONLINE COMPENDIUM OF MEMBER COMPANIES’ CSR AND SUSTAINABILITY ACTIVITIES
HINJ has created an online portal to HINJ member companies’ myriad corporate social responsibility (CSR) activities, including their corporate philanthropy, patient outreach initiatives and sustainability/green practices.
HINJ OP-ED: LIFE SCIENCES COMMUNITY THRIVING IN NEW JERSEY’S ‘2.0 BUSINESS ENVIRONMENT’
The Asbury Park Press has published an op-ed by HINJ President and Chief Executive Officer Dean Paranicas regarding New Jersey’s “2.0 business environment” and its impact on the state’s life sciences community.
“There have been reports that claim that New Jersey is no longer the pharmaceutical powerhouse it used to be, including a recent Asbury Park Press story by Michael L. Diamond …. We disagree. To paraphrase Mark Twain, reports of New Jersey’s demise are greatly exaggerated.
“For decades, New Jersey has rightly earned its reputation as the ‘Medicine Chest of the World’ — and our state leaders are working with the life sciences industry to keep it that way.
Mindful of the life sciences’ significant contributions to the state’s economy and global human health, Governor Christie and his economic development team, together with the State Legislature and its leadership, both Democrats and Republicans, have worked diligently over the past few years to enhance the state’s business climate to retain and grow the many life sciences companies that call New Jersey home — and attract new industry investment.
“These measures — which have created, in effect, a ‘2.0 business environment’ in New Jersey — certainly are not the sign of a state willing to cede its life sciences leadership role to any other state or nation, for that matter.”
HINJ TO HOST POLICY FORUM ‘LIFE SCIENCES: SAVING LIVES, SAVING MONEY’ NOVEMBER 21
HINJ invites you to join leaders of New Jersey’s health care community for a health policy forum entitled “Life Sciences: Saving Lives, Saving Money” that will be held Friday, November 21 from 8:30 to 11:00 a.m. at Forsgate Country Club in Monroe Township.
The forum will present a discussion about how the life sciences not only saves lives, but also lowers health care costs. Topics and speakers will include:
Chronic Disease Management: Helping Patients and Saving Money — Larry Hausner, Former Chief Executive Officer, American Diabetes Association
Patient Adherence: Staying Healthy and Avoiding Expenses — Murray Aitken, Executive Director, IMS Institute for Healthcare Informatics
Medical Innovation: Prevention, Cures and Cost Avoidance — Ken Zaentz, President and Chief Executive Officer, Alzheimer’s Association, Greater New Jersey Chapter
Wellness and Prevention: Living Healthier and Spending Less — Linda J. Schwimmer, J.D., Vice President, New Jersey Health Care Quality Institute
Admission is free, but seating is limited. To RSVP, please click here.
HINJ AND NJLSVA HOST 2014 PROCUREMENT CONFERENCE AT ROWAN UNIVERSITY
Through our affiliate organization the New Jersey Life Sciences Vendors Alliance (NJLSVA), HINJ hosted its Annual Vendors Procurement Conference on October 28 at Rowan University. Forty-five vendors attended with 11 companies exhibiting.
Guest speakers included:
New Jersey Senate President Stephen Sweeney
The Honorable Rob Andrews, former Member of Congress and Of Counsel, Dilworth Paxson
Ken Blank, Ph.D., Senior Vice President of Health Sciences, Rowan University.
HINJ extends its gratitude to Bill Hooker, Senior Category Manager, Marketing and Sales, Novo Nordisk, and Cornell Stamoran, Ph.D., Vice President, Strategy, Catalent Pharma Solutions, for speaking on behalf of the industry.
Please visit HINJ’s Facebook photo album to view photos the 2014 Procurement Conference at Rowan University.
Front (l. to r.): Gina Murdoch, LLS-NJ; HINJ’s Dean Paranicas; Gina Londino, LLS-NJ. Back (l. to r.): HINJ Chair Craig Bleifer, Daiichi Sankyo, Inc.; Larry Fox, Dr. Paul Winslow, Don Truss, Students 2 Science; U.S. Rep. Rush Holt; Dr. Joachim Kohn, NJ Center for Biomaterials; “Survivor” and Cancer Crusher Ethan Zohn; Mike Shevlin, Chair, LLS-NJ.
HINJ RESPONDS TO NPR REPORT ON NEW JERSEY’S BIOPHARMA SECTOR
HINJ has responded as follows to a National Public Radio (NPR) report regarding New Jersey’s biopharmaceutical sector. HINJ said:
“Dan Tucker’s story opens by stating that New Jersey “used to be known as ‘the nation’s medicine chest.’” While [HINJ] acknowledges that there are a number of vacant pharmaceutical facilities in the state, the status of industry real estate alone is not a true barometer of the industry’s strength in New Jersey.
“HINJ contends that — with 13 of the world’s top 20 biopharmaceutical companies and 12 of the world’s top 20 medical technology companies maintaining a significant presence in New Jersey, with the state being one of the largest life sciences clusters in the U.S., and with recent expansion and relocation activity in the state — the Garden State remains the “medicine chest of the world.”
“In contrast, this story leads the audience to infer a rather bleak picture and outlook for New Jersey’s life sciences community.
“In fact, there are a number of signs that point to an energized life sciences community in New Jersey that were not reflected in this story.”
For HINJ’s complete response to the NPR story, click here.
HINJ’S PARANICAS APPEARS ON ‘NJ CAPITOL REPORT’ TO DISCUSS STATE’S LIFE SCIENCES SECTOR
(l. to r.) Steve Adubato, Dean Paranicas and Rafael Pi Roman.
HINJ President and Chief Executive Officer Dean J. Paranicas appears with Emmy Award-winning anchors Steve Adubato and Rafael Pi Roman on “New Jersey Capitol Report” to discuss New Jersey’s life sciences sector.
To view the half-hour episode — Paranicas begins at the 17:45-minute mark — click here.
HINJ ANNOUNCES NEW BOARD, STEERING COMMITTEE LEADERSHIP; DAIICHI SANKYO’s CRAIG BLEIFER NAMED BOARD CHAIR
HINJ has announced new officers of its Board of Trustees as well as the leadership of its Steering Committee.
Craig B. Bleifer (photo), Vice President, General Counsel and Secretary, Daiichi Sankyo, Inc., has been named Chair of the HINJ Board of Trustees.
Mr. Bleifer succeeds Kevin T. Rigby, U.S. Country Head Public Affairs, Vice President Public Affairs, Novartis Pharmaceuticals Corporation.
HINJ’s two new Board Vice Chairs are:
Yin C. Becker, Vice President, Communications, Public Affairs and Strategic Marketing, Stryker.
Raymond Sacchetti, Senior Vice President, U.S. Access and Government Affairs, Bristol-Myers Squibb Company.
For the complete HINJ leadership story, click here.
HINJ HOSTS LT. GOVERNOR GUADAGNO, CABINET MEMBERS FOR ROUNDTABLE DISCUSSION
Photo (left to right): HINJ President and CEO Dean J. Paranicas, HINJ Vice Chair Craig Bleifer (Daiichi Sankyo, Inc.), Lt. Governor Kim Guadagno and HINJ Chair Kevin Rigby (Novartis Pharmaceuticals Corporation).
On June 13, the HealthCare Institute of New Jersey (HINJ) hosted a roundtable discussion featuring New Jersey Lt. Governor Kim Guadagno on the state of the life sciences and prospects for industry growth in the Garden State as part of the HINJ Board of Trustees meeting.
Printed copies of each publication are being mailed to HINJ member companies and to our many stakeholders, including members of New Jersey’s Congressional Delegation, Governor Christie and his administration and the State Legislature.
HINJ encourages members to employ these new publications, when appropriate, in their interactions with elected officials and other stakeholders.
HINJ CEO INTERVIEW ON NJTV NEWS: NJ WILL CONTINUE TO BE STRONG WITHIN MEDICAL INDUSTRY
New Jersey has traditionally served as headquarters for life sciences companies and been a major part of the medical industry. In an interview broadcast on April 10 on “NJTV News with Mike Schneider,” HINJ President and Chief Executive Officer Dean Paranicas said he believes the state will continue to be strong even in the changing health care climate.
While some limitations exist, and changes have occurred within the industry, Paranicas said that he is optimistic that New Jersey has outstanding assets that work in the state’s favor.
“I think we continue to be very important,” Paranicas said. “We are very proud of the fact that we are known globally as the medicine chest of the world, and we certainly intend to keep it that way.”
The purpose of the May 1 panel discussion is to provide Rx4NJ partners and others in New Jersey’s patient advocacy community useful information on how to effectively navigate the policymaking process on behalf of their patient constituencies.
Speakers and panelists include Assemblyman Troy Singleton (D-7) and Amanda Woloshen, District Director, Office of Congressman Leonard Lance (R-NJ-7).
HINJ PLEASED AGAIN TO COSPONSOR PHARMFEST; PHRMA CEO JOHN CASTELLANI KEYNOTED
HINJ was pleased to partner, once again, with Montclair State University to sponsor PharmFest, a premier forum that explores emerging issues and trends in the biopharmaceutical and medical technology industry.
HINJ AND NEHI HOST ‘INNOVATION IN AN ERA OF PAYMENT REFORM’ FORUM
HINJ and NEHI (The Network for Excellence in Health Innovation) hosted a forum on “Innovation in an Era of Payment Reform: How Will New Jersey’s Life Sciences Companies Respond?” on April 1 at the Crowne Plaza in Monroe Township, NJ.
Health care payment reform is already transforming the way health care providers deliver care throughout the United States. Payment reform will not only influence the quality and cost of health care, it will also impact innovation in New Jersey’s historically dynamic life sciences sector.
HINJ and NEHI’s roundtable brought stakeholders and policymakers together from all New Jersey health care sectors to explore the opportunities for medical innovation in this new environment, the direction innovation could take, the potential challenges that will be involved, and how innovation can be a solution to lowering the cost of health care in this new payment model.
‘NJTV NEWS’ REPORTS ON NJ LIFE SCIENCES, HINJ’S 2012 ECONOMIC IMPACT SURVEY
<![endif]–>It has been called the crown jewel of the New Jersey economy. Citing HINJ’s latest economic impact survey, Lauren Wanko reported on “NJTV News with Mike Schneider” that the biopharmaceutical and medical technology industries generated over $26 billion in economic impact for the Garden State in 2012.
“We call this the ‘Medicine Chest of the World,’” said HINJ President and Chief Executive Officer Dean Paranicas. “This is New Jersey’s premier industry. In fact, we have the largest concentration of companies of its type in the world.”
HINJ MEMBER COMPANIES’ ECONOMIC IMPACT EXCEEDS $26 BILLION IN 2012, FINDS NEW STUDY CONDUCTED IN ASSOCIATION WITH DELOITTE
Key findings from the HINJ 2012 economic impact survey indicate that the life sciences continues to play a leading role in driving New Jersey’s economy and reinforces the state’s reputation as the “Medicine Chest of the World.”
According to the study, which was conducted by Deloitte for the ninth consecutive year, participating HINJ member companies had a total impact on New Jersey’s economy of $26.6* billion in calendar year 2012, a healthy increase of 9.9 percent from 2010.
“HINJ member companies continue to be a major force in New Jersey’s economy in their pursuit of advancing global health,” said Dean J. Paranicas, President and Chief Executive Officer of HINJ. “Our enduring goal is for patients everywhere to have access to the medicines, therapies and medical technologies they critically need.”
The 2012 survey also measured participating HINJ member companies’ activities in research and development (R&D), vendor spending, capital spending, philanthropy, employment and compensation.
HINJ Honors Six at Inaugural Life Sciences Celebration
The HealthCare Institute of New Jersey (HINJ) honored five New Jersey leaders and a nationally recognized high school on September 25, 2013, for their contributions in human health, public service, patient advocacy, life sciences, and science, technology, engineering and mathematics (STEM) education.
The awards were presented at HINJ’s inaugural Life Sciences Celebration, which was held at the Renaissance Woodbridge Hotel in Iselin, NJ.
Those recognized included former Governor Thomas H. Kean, the late United States Senator Frank R. Lautenberg, Dr. Christopher J. Molloy, Dr. Joseph R. Bertino, Dr. Debra L. Wentz, and Biotechnology High School.
HINJ was pleased to host three former New Jersey Governors. In addition to Governor Kean, Governor Brendan Byrne and Governor James Florio attended the event.