Congress continues consideration of drug pricing proposals that rely on innovation-stifling price controls to address Patient out-of-pocket costs. We know from other health care marketplaces that price controls inevitably lead to a decline in investment in research and development and fewer treatments for the Patients who need them the most. Now is the time to ensure policymakers understand the ramifications of these policies on Patient access to groundbreaking therapies and New Jersey’s vibrant biopharmaceutical ecosystem.

Click here for BioNJ’s alert on this important issue.

As Congress continues its deliberations on the “Build Back Better” agenda, BioNJ articulated to legislators its concerns with reference pricing as a mechanism to address Patient prescription treatment costs. In a letter to the NJ Congressional Delegation, Debbie Hart, BioNJ President and CEO, described the devastating impact H.R. 3 and other reference pricing proposals would have on New Jersey’s biopharmaceutical sector and the Patients we serve. In the letter, Hart says that “we believe there are right ways to address Patient costs – such as Senator Menendez’s bipartisan legislation to cap Part D Patient out-of-pocket costs – that will provide immediate Patient out-of-pocket savings. But H.R. 3 would have the unfortunate impact of reducing future access to treatments while disrupting our State’s economy with the loss of countless jobs, taxes and economic activity.”

Click here to read BioNJ’s letter to the delegation on this important issue.

A group of moderate U.S. House Democrats have unveiled an alternative to H.R. 3. Sponsored by Democratic Reps. Scott Peters (CA), Stephanie Murphy (FL), Kurt Schrader (OR), Kathleen Rice (NY) and Luis Correa (CA), H.R. 5237 varies significantly from H.R. 3 in government “negotiation” while including proposals that have garnered past support from both parties.

Click here for a press release on the moderate alternative.

Meanwhile, the House has completed Committee consideration of the reconciliation proposal, following Speaker Pelosi’s aggressive timeline to move forward the "Build Back Better" agenda. While a tied vote on a reference pricing proposal ensured an H.R. 3-like proposal would not be included in the Energy and Commerce Committee contribution to the reconciliation process, similar language was passed through the Ways and Means Committee. In addition, the Ways and Means Committee’s section of the underlying proposal includes significant changes that would limit the Orphan Drug Tax Credit. This misguided provision could curtail the research and development needed to find the cures for so many rare diseases. We would encourage our delegation to oppose this unfortunate proposal as well as section 1202 changes and other provisions that would negatively impact small and emerging biopharmaceutical companies.

Click here for NORD’s statement on this provision.

The New Jersey Economic Development Authority (NJEDA) has released informal draft program rules for feedback for the Aspire program. Created by the New Jersey Economic Recovery Act, the Aspire program will encourage “the development of commercial, mixed use and residential real estate projects in New Jersey by providing tax credits in an amount based on a percentage of the project’s total cost.” Initial public feedback is due by September 24, 2021. Click here for BioNJ’s alert on NJEDA’s announcement.

Click here for NJEDA’s press release detailing the announcement.

Governor Murphy has signed two legislative initiatives – S-1431 and S-3724 – into law that would help boost pediatric cancer research in the Garden State. S-1431 establishes the Pediatric Cancer Research Fund in New Jersey while S-3724 appropriates $5 million to this important initiative.

Please click here for BioNJ’s statement thanking Governor Murphy, Senate President Sweeney and the legislative sponsors for their work on this important issue.

More information is available here.