Bridgewater, NJ, November 18, 2008 — The HealthCare Institute of New Jersey (HINJ) today released a new report on the next generation of medicines in the state′s biopharmaceutical research pipelines that offer hope to millions of patients.
The report, compiled by The Pharmaceutical Research and Manufacturers of America (PhRMA), found New Jersey′s biopharmaceutical research companies are testing nearly 400 new medicines and vaccines for the three leading causes of death in the United States: heart disease, cancer and stroke. All of the medicines listed in the report are being developed by companies in New Jersey and are currently in human clinical trials or awaiting approval by the U.S. Food and Drug Administration.
“The medicines now in the research pipeline in New Jersey will add to the substantial progress made in the last five years by biopharmaceutical companies in developing new and more effective treatments for a wide number of diseases, but especially for those in heart disease, cancer and stroke,” notes HINJ President Bob Franks.
“Our companies′ strong commitment to research is a product of the determination of the 61,000 men and women working for New Jersey′s biopharmaceutical research companies to develop new medicines that will enable patients to live longer, healthier, and more productive lives,” Franks said. “Our promise to finding cures has never been stronger and we are committed to providing new hope for patients and to driving the continued growth of New Jersey′s life sciences industry that makes this possible.”
Today′s report was released at Wyeth, which is a leader of the state′s biopharmaceutical sector in developing and testing cutting-edge medicines. New Jersey′s life sciences industry remains one of the nation′s fastest-growing and most vigorous centers of innovation, with many new specialty pharmaceutical companies, medical technology companies and biotechnology companies formed in the state in the past several years.
“The release of this encouraging report in a state that has always been synonymous with innovation in global health care is excellent news,” said Governor Jon. S. Corzine, who proclaimed November 17 through November 21 as Life Sciences Week in New Jersey. “We are proud of the increasingly important role of the state′s biopharmaceutical sector in developing and testing cutting-edge medicines.”
“More importantly, as research, development and discovery progress in biopharmaceutical laboratories across New Jersey, it provides investment opportunities, employment and high paying wages for our citizens,” said Governor Corzine.
New Jersey pharmaceutical companies are developing 109 of the 227 medicines in development for heart disease and stroke nationwide, keeping the momentum of drug discovery that has helped cut deaths from these diseases by more than half since the 1950s in the United States.
New Jersey′s biopharmaceutical companies are also playing a major role in the battle against cancer; of the 750 medicines now being developed nationwide, 218 are being developed in the state.
“Wyeth is proud to play a major role in New Jersey′s contribution to biotechnology and the life sciences,” says Mene Pangalos, Ph.D, Vice President, Neuroscience Discovery, Wyeth Research. “At our neuroscience site in Princeton, we are working hard to find treatments for difficult diseases like Alzheimer′s. We are committed to making a difference for patients in the state and around the world.”
The biotechnology revolution is helping create medicines that use unprecedented technologies, such as nano-sized particles that seek out and kill viruses, ways to actually regenerate healthy muscle to replace damaged heart tissue, and gene therapy, according to PhRMA. The impact of this research is felt worldwide. Such critical innovation is creating medicines with the potential to help millions of patients live longer, healthier and more productive lives.
New Jersey′s pharmaceutical and medical technology industry remains a leading economic sector with an estimated economic impact of more that $27 billion on New Jersey′s economy. The number of New Jersey′s biotechnology and life sciences companies are growing rapidly with the number of startup, small, mid-size and fully integrated companies nearly tripling in the past decade. Last year, New Jersey′s biopharmaceutical and medical technology industry invested a record $7.9 billion in R&D activity in the Garden State, a $400 million increase over the previous year.
About the HealthCare Institute of New Jersey:
New Jersey is home to more pharmaceutical companies than any other state in the country, or any other country in the world. The pharmaceutical and medical technology industry is a major factor in creating a thriving economy in our state, as well as making New Jersey a leader in research and development. The HealthCare Institute of New Jersey (HINJ) is a trade association for the research-based pharmaceutical and medical technology industry in New Jersey. Founded in 1997, the Institute serves as a unified voice for the industry and seeks to build awareness of this industry′s impact on New Jersey′s quality of life and economic well-being. There are currently 30 members of the HealthCare Institute of New Jersey.