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.

President Proposes that Medicare Be Given Right to Negotiate the Cost of Drugs

Washington, DC, April 28, 2015 ― Robert Pear reports in The New York Times that, embedded in President Obama’s budget request to Congress is a paradox.  He proposes a major new initiative to develop drugs tailored to the genetic characteristics of individual patients, but he expresses deep concern about the costs of such specialty medicines for consumers and for the Medicare program.

President Obama has asked Congress to let Medicare officials negotiate prices with drug manufacturers — a practice explicitly forbidden by current law.

At the same time, the administration, through the National Institutes of Health, is off and running with its “precision medicine” initiative, meant to develop personalized therapies like those now on the market to treat illnesses like cancer and cystic fibrosis at a cost of tens of thousands of dollars.  Prices over $50,000 or $100,000 a year are not unusual.

Mr. Obama last January announced the precision medicine initiative in his State of the Union address and followed up with a $215 million proposal, now under review in Congress.

The proposal has received broad bipartisan support and has generated excitement among scientists, who are drafting plans to explore the molecular and genetic basis for disease with a national research cohort of a million or more volunteers.

To read Mr. Pear’s full New York Times story, click here.