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.

Democrats Eye Pharma Industry in Push for Medicare Cuts; PhRMA Responds Strongly

Washington, DC, April 17, 2013 — According to The Hill, Congressional Democrats ratcheted up a years-long feud with the pharmaceutical industry Tuesday as they proposed significant cuts in Medicare’s payments to drug companies.  The Pharmaceutical Research and Manufacturers Of America (PhRMA) was quick to respond.

The Hill reported that Democrats in both the House and Senate will introduce bills this week to lower drug prices for the poorest seniors, saving the government roughly $140 billion in Medicare costs.

The pharmaceutical industry strongly opposes the proposal, and has kept past iterations from even coming up for a vote, The Hill added.  But Democrats said the latest push will benefit from the intense political pressure to cut entitlement spending.

“What’s different now is we can no longer afford this waste,” Sen. Richard Blumenthal (D-Conn.) said. “This gives new meaning to the phrase ‘low-hanging fruit.’”

Responding to the news from Capitol Hill, PhRMA Senior Vice President Matthew Bennett on Tuesday issued a statement that said, “Several members of Congress today echoed President Obama’s recycling of a flawed policy proposal: imposing mandatory government price controls in Medicare Part D, cleverly disguised as ‘rebates.’  But unlike familiar consumer rebates that return savings to shoppers, this policy would undermine a successful and popular program, sending ‘rebates’ to the Federal Treasury, not seniors.”

PhRMA’s statement continued, “The reality: analysts predict that this proposal would bring higher premiums and copays, more restricted access to medicines for seniors and Americans with disabilities, and diminished research on the next generation of medicines.”

To read The Hill article, click here.  To read PhRMA’s statement, click here.