Who We Are

The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

New Jersey Senate Passes Pharmacy Benefits Manager Legislation

Trenton Capital Dome  MoonTrenton, NJ, November 20, 2016Katie Jennings reported on Politico New Jersey that the full New Jersey Senate passed a bill on Monday, November 14 to alter the contract for the pharmacy benefits manager (PBM) — the company that processes and manages prescription drugs claims — for the state health plans for public workers and teachers.

The bill (S2749), which has the backing of the public employee unions, directs the Division of Purchase and Property in the state treasury department to procure a pharmacy benefits manager contract “in an expedited process” that includes “reverse auction” bidding, technology that allows for competitive bidding on drug prices in real-time.

Senate President Stephen Sweeney sponsored the bill.  The bill passed by a vote of 34-0.

The Assembly version of the bill (A4328), which was introduced today, is sponsored by Assembly Speaker Vincent Prieto.

In a press release, Sweeney said the new approach could save $200 million a year, which would be split among state, county and municipal governments and employees. In the past, Dudley Burdge of the Communications Workers of America indicated the direct savings to the state would be $135 million.

In June, the State Health Benefits Program Commission approved a two-year extension of the current contract with Express Scripts, which was opposed by the commission’s two union members.

The treasury department in November 2015 issued a request for proposals for a new pharmacy benefits manager, but the RFP was canceled in May and applicants were informed their bids were “non-responsive.”

Follow Katie Jennings on Twitter @katiedjennings.