Trenton, October 11, 2024 ― Chrissy Buteas, President and Chief Executive Officer of the HealthCare Institute of New Jersey, released the following statement concerning the State’s recent completion of appointments to the Prescription Drug Affordability Council (PDAC):
“Drug development is an extraordinarily complex and multifaceted journey, with middlemen in the supply chain – such as insurers and PBMs – earning more than half of a medication’s final price at purchase. PDAC appointees must possess unbiased expertise across the entire prescription drug supply chain, and refrain from actions that could deter investment in the discovery of these life-saving medical innovations for patients. Such actions risk undermining the substantial investments being made by the State, academic medical centers, and local economic development agencies in New Jersey, aimed at fostering growth in our life sciences sector and creating jobs. We hope that the Council’s actions will not jeopardize our ability to do what we do best – saving lives around the world by finding new treatments and cures in New Jersey.”