January 5, 2022

Build Back Better, Federal Update: Senator Manchin Opposes Plan, Congressman Sires to Retire      As we approached the final two full weeks of 2021, Senator Joe Manchin (D-WV) announced in an interview that he would not be voting for the Build Back Better Act. With the U.S. Senate divided 50-50 among Democrats and Republicans, all 50 Democrats are needed to move forward with the Build Back Better Act under the reconciliation process. Senator Manchin’s announcement imperils the chances of moving the Build Back Better Act – including the drug pricing provisions – as a package. BioNJ will continue to support proposals that improve Patient access to necessary medications while opposing price controls and other measures that would stagnate innovation and access. Stay tuned for additional information as these discussions continue in the New Year.   Meanwhile, Congressman Albio Sires (8th District) has announced that he does not plan to seek reelection in 2022. Congressman Sires has served New Jersey in the U.S. Congress since 2006 and formerly served as the Speaker of the New Jersey General Assembly.   Click here for BioNJ President and CEO Debbie Hart’s statement on Congressman Sires’ retirement.  Click here for Congressman Sires’ retirement announcement.

Governor Murphy Announces Health Care Benchmark Initiative Governor Murphy unveiled an initiative designed to address health care costs in New Jersey. Governor Murphy signed Executive Order #277 creating the “New Jersey Health Care Cost Growth Benchmark Program” to help provide a greater statewide understanding of health care cost growth and the factors contributing to that growth. The program will look to decrease health care cost growth and will be led by the Governor’s Office of Health Care Affordability and Transparency and the Department of Banking and Insurance. BioNJ looks forward to engagement on this important effort in support of the value medical innovation brings to our State’s health care system.   Click here for more information on the New Jersey Health Care Cost Growth Benchmark Program. Click here to read Executive Order #277.

NHE: Net Retail Prescription Prices Declined in 2020 The Centers for Medicare and Medicaid Services (CMS) has released its National Health Expenditures report, and the data show that our nation’s biopharmaceutical sector continues to provide value to our health care system. The report shows that net retail prescription drug prices declined by 0.1 percent in 2020 while overall spending on prescription medicines increased only 3.0 percent – down from 4.3 percent in 2019. This reduction in growth was accompanied by a 2020 decrease in out-of-pocket prescription expenditures of 4.2 percent. Spending on retail prescription drugs comprised only eight percent of overall national health expenditures. Click here for more information on the report.

PDAB Update: Call Your Legislator to Voice Your Concerns A-2418/S-1066, legislation to create a Prescription Drug Affordability Board, was considered at a December 13 hearing of the NJ Assembly Appropriations Committee. BioNJ believes these PDAB proposals are the wrong way to address Patient out-of-pocket costs. Rather than taking a systemwide, holistic approach that addresses the drug supply chain middlemen, coinsurance, copayments and health benefit design issues that can have the biggest impact on Patient costs, PDAB proposals focus squarely on the innovative biopharmaceutical sector without any guarantee of Patient savings on necessary and lifesaving prescription treatments. We believe we can do better. We stand committed in support of commonsense proposals that will enhance Patient access. We hope you will stand with us and the Patients we serve in opposition to the Prescription Drug Affordability Board proposal. Now is the time to contact your legislator to express concerns with further consideration of this proposal during the lame duck session. Click here for a template letter to send to your legislator on this important issue.

We Need Your Help: Support BioNJ Policy and Advocacy Efforts BioNJ is the voice of New Jersey’s life sciences sector in Trenton and Washington. Please join in our efforts to improve Patient access and enhance medical innovation by becoming a BioNJ Public Policy Sponsor. Click here for more information.

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