Innovation state (ROI-NJ): Paranicas explains how life sciences, tech firms are advancing health care
Dean Paranicas, CEO and president of the HealthCare Institute of New Jersey, isn’t just another state trade organization leader. Given that at least 11 of the Top 20 medical technology companies have a presence in New Jersey, representing them — as the HealthCare Institute of New Jersey does — means giving a voice to a big […]
New report: Biopharmaceutical industry supports over 4 million jobs and $1.1 trillion in U.S. economic output
A new report from TEConomy Partners found that the biopharmaceutical industry supports over four million U.S. jobs and over $1.1 trillion in economic output. The biopharmaceutical industry directly employs more than 811,000 people in our country, and each of those jobs supports four additional jobs in other industries. Of the direct industry jobs, 37% are in […]
Almost Half of Spending on Brand Medicines Goes to PBMs, the Supply Chain, Other Entities – Not to Drug Companies
$166 billion in discounts intended for patients goes to middlemen New Brunswick, Jan. 29, 2020 ― An important new study sheds light on the dynamics of drug pricing, finding that almost half of spending on brand medicines in the United States goes to pharmacy benefit managers (PBMs), hospitals, health insurers, the government and others – […]
We can lower health care costs and keep N.J.’s pharmaceutical industry hard at work at the same time (NJ.com)
Although New Jersey’s biopharmaceutical sector opposed H.R. 3, we share its overriding goal – to ensure that patients can access the treatments and cures that these companies work so hard to discover. While many provisions in H.R. 3 wouldn’t actually lower costs for patients, we will continue seeking comprehensive, realistic ways to lower costs for […]
CEOs of four HINJ-member companies, HINJ President & CEO named to NJBIZ Manufacturing Power 50
From NJBIZ: The history of manufacturing in New Jersey is the history of manufacturing in America. Historians can trace the birth of the country’s political economy to Paterson – where Alexander Hamilton sought to demonstrate how manufacturing would lead to national prosperity and an international leadership role, if not hegemony, for the new nation. Please read […]
HINJ Statement on the Medical Device Excise Tax Repeal
HINJ President and Chief Executive Officer Dean J. Paranicas has issued the following statement about the full repeal of the medical device excise tax: “Patients, health care providers and the nearly 24,000 people who work for the medical technology sector in New Jersey will benefit from the decision by Congress to fully repeal the medical […]
HINJ Honors Pioneering Genetics Researcher Jay Tischfield of Rutgers
HINJ honored Prof. Jay A. Tischfield of Rutgers University–New Brunswick today (Dec. 9, 2019) “in recognition of innovative and creative leadership in genetics research, scholarship and commercial collaborations.” Tischfield, who is CEO, founder and scientific director of RUCDR Infinite Biologics and the Duncan and Nancy MacMillan Distinguished Professor of Genetics at Rutgers, received the 2019 […]
Booker’s Bill to Curb Drug Prices Would Kill Innovation – and N.J. Jobs, Trade Group Says (NJ.com)
For the first time in human history, we have cured hepatitis C – the days of liver transplants and life-long treatments are fast disappearing. We now have a simple vaccine that prevents cervical cancer, something unheard of only a few short years ago. HIV/AIDS has become a chronic, manageable condition instead of the death sentence […]
HINJ Presents Honorable Bob Franks Public Service Award to Joan Quigley
On Nov. 12, HINJ presented the 2019 Honorable Bob Franks Public Service Award to Joan Quigley, President/CEO of North Hudson Community Action Corporation (NHCAC). She was honored for her 45 years of public service, principally her dedicated leadership of NHCAC, which is one of New Jersey’s leading Federally Qualified Health Centers. She also was recognized […]
Federal Law Must Be Modernized to Foster Value-Based Payment in Health Care
All across New Jersey, leaders in health care, the biopharmaceutical and medical technology industries, associated industries and our state’s academic health care community are talking about the move to value-based payment for health care services. The Affordable Care Act, which expanded access to health care coverage, also initiated fundamental, positive changes in how health care […]