Governor Murphy’s Prescription Drug Affordability Legislative Package Considered in both Houses
Both the Assembly and Senate advanced legislation put forth by Governor Murphy and introduced in the Legislature to address prescription drug affordability. BioNJ President & CEO Debbie Hart testified in the hearings in Assembly Financial and Insurance and Senate Commerce Committees, conveying that we share a common goal around affordability and Patient access. BioNJ supports legislative measures that will enhance the ability of Patients to access lifesaving treatments and reduce Patient out-of-pocket costs.
As previously shared, the package of bills would cap out-of-pocket costs on insulin, EpiPens and asthma inhalers, address PBM actions, increase transparency across the supply chain, and require the hiring of a vendor to manage a Medicaid Multi-State Pooling program and associated uniform Preferred Drug List. The bills were second referenced to the Assembly Health and Senate Budget Committees. BioNJ stands ready to continue to work with the Administration and the Legislature on amendments to ensure that these policies will have a positive impact on Patient affordability and access to medicines.
Please find links to the four bills.
Meanwhile, the Prescription Drug Affordability Board legislation (A1747/S329) continues to see movement as it was released from Senate Health and referenced to Senate Budget and Appropriations. The bill would allow for drug price controls. BioNJ stands firmly opposed to this legislation as it will be harmful to Patient access and will not result in improved affordability for Patients.
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Governor Murphy Delivers Budget Address
Governor Murphy delivered his fiscal year 2023 budget address on March 8 in his first in-person address since the pandemic began. The Governor’s themes centered on fiscal responsibility and affordability, with a continued focus on promoting economic growth and making New Jersey stronger and more affordable. The Governor’s budget calls for $48.9 billion in spending, an increase of $2.5 billion or 5.4% from last year’s FY22 budget. The budget represents the second budget with no new taxes, a pledge made during the Governor’s re-election campaign. The budget includes the State’s largest pension payment of $6.8 billion and puts over $2 billion back into the rainy-day fund. BioNJ applauds the Governor’s investment in innovation with $35 million proposed for Strategic Innovation Centers and $1.5 million in additional funding for the New Jersey Commission on Science, Innovation and Technology for which BioNJ President and CEO Debbie Hart serves as Vice Chair.
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Governor Murphy and the Legislature Take Action Regarding Russia
The Governor and the Legislature moved very quickly to advance, pass and sign legislation which prohibits government dealings with business associated with Belarus or Russia. The legislation does not exempt humanitarian dealings. From a contracting standpoint, the bill is prospective and pertains to contracts entered into with either government after the bill’s signing on March 10. BioNJ has requested additional guidance for our Members.
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BioNJ Joins Bayh-Dole Coalition on March-In Petition
BioNJ joined with more than 65 other groups and individuals in signing on to the Bayh-Dole Coalition letter to the U.S. Department of Health and Human Services Secretary Becerra opposing the most recent march-in petition on Xtandi. The letter explains the scope of the Bayh-Dole Act and the successful policy behind that legislation. It urges Secretary Becerra to remain faithful to the law by rejecting the petition which asks the Secretary to march-in solely on the basis of price. The Bayh-Dole Act does not sanction marching-in because critics do not like the price of a successfully commercialized product that arose from a federally funded invention. The purpose of the Bayh-Dole Act is to incentivize the commercialization of technologies developed from federally funded inventions. To that end, the law has been tremendously successful.
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Celularity Hosts U.S. Representative Mikie Sherrill
U.S. Representative Mikie Sherrill met with Celularity Chairperson, Founder and CEO, Robert J. Hariri, M.D., Ph.D., and his leadership team along with BioNJ President and CEO Debbie Hart and VP, Government Affairs Wendy Lazarus for a tour and meeting at their 50,000 square foot facility on Park Avenue in Florham Park. Celularity’s state-of-the-art facility includes laboratory and advanced manufacturing space for cellular medicine and biomaterials. Take a tour and learn more about BioNJ Member company Celularity by clicking here.
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From Left to Right: Meghan Hunscher, President & CEO, Morris County Chamber of Commerce; Debbie Hart, President & CEO, BioNJ; U.S. Representative Mikie Sherrill; Dr. Bob Hariri, Chairman, Founder & CEO, Celularity, Wendy Lazarus, VP, Government Affairs, BioNJ; Florham Park Mayor Mark Taylor |
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New Jersey Rare Disease Day
Patients, families, BioNJ Members and other rare disease advocates gathered virtually to celebrate Rare Disease Day in New Jersey. BioNJ President and CEO Debbie Hart and PTC Therapeutics CEO Stuart Peltz highlighted the innovation happening right here in the Garden State for the rare disease community. Julie Raskin and Patricia Geurds, New Jersey Rare Action Network Volunteer Co-Ambassadors, led the event with a celebration of rare disease Patients. Many thanks to our friends at Insmed for getting the iconic “Trenton Makes The World Takes” bridge to shine a light on Rare Disease Day.
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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. BioNJ’s Public Policy Support Series sponsorship opportunities are available for 2022. Sponsorship opportunities help make sure that our message is delivered in both Trenton and Washington, D.C. Help ensure BioNJ continues to deliver our message of improved Patient access and enhanced innovation through a Public Policy Support Series Sponsorship.
More information is available here.
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Thank You to Our Public Policy Sponsors |
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