State Legislative Update
As we near the end of the State fiscal year and the budget process continues, several other legislative items recently received consideration in the New Jersey Legislature. A-4016/S-2682, legislation to create a New Jersey Rare Disease Advisory Council, was approved during the May 20th voting session by the General Assembly. The legislation had previously been approved by the Senate and heads to Governor Murphy’s desk for consideration. A New Jersey Rare Disease Advisory Council will help raise awareness for New Jersey’s rare disease community. BioNJ thanks sponsor Assembly Representatives Benson, Dancer and Verrelli and Senators Gopal and Kean for their work to help make this a reality. We look forward to Governor Murphy signing this important legislation.
Meanwhile, a May 14th hearing featured a discussion of A-2418, legislation to create a Prescription Drug Affordability Board in New Jersey. The Board could, among other responsibilities, set arbitrary upper payment limits for certain prescription treatments. BioNJ Board Chair and Insmed Chair and CEO Will Lewis testified before the Committee on the dangers of price controls to both continued investment in new treatments and cures as well as Patient access to those cures. BioNJ opposes this legislation, and we look forward to working with the New Jersey Legislature to support drug pricing solutions that both lower Patient costs and protect New Jersey’s innovation economy.
