New Brunswick, NJ, December 18, 2015 — The HealthCare Institute of New Jersey (HINJ) congratulates Congress on the passage of legislation that includes several key provisions that will strengthen medical innovation in the United States.
The spending measure, which received bipartisan support, includes $2 billion in increased funding for the National Institutes of Health (NIH); a $133 million increase in funding for the Food and Drug Administration (FDA); a two-year suspension of the medical device excise tax; and makes permanent the Research & Development (R&D) tax credit.
HINJ President and Chief Executive Officer Dean J. Paranicas said, “We are grateful to New Jersey’s Congressional Delegation for their significant work on these important provisions that foster the innovation environment to research and discover the next generation of treatments and cures.”
“This legislation will greatly benefit patients awaiting advances in medical care, improves global human health, and strengthens New Jersey’s innovative ecosystem and jobs,” Paranicas continued. “We look forward to its enactment.”