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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.

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Sen. Elizabeth Warren Wants Big Drugmakers that Break Law to Fund NIH

New York, NY, January 23, 2015 ― Pharmalot reports that, seeking to replenish funding for new scientific research, U.S. Sen. Elizabeth Warren (D-MA) plans to introduce a bill next week that would require drug makers that break the law to send some of their profits to the U.S. National Institutes of Health (NIH).

Under the Senator’s plan, drug makers that reach settlements with the federal government for paying kickbacks to doctors, defrauding Medicare or Medicaid or illegally marketing medicines would have to pay 1% of their annual profits for each blockbuster medicine that can be traced to public sector research.

Such a penalty would run for five years, which Warren notes is the same amount of time covered under most settlements

In Sen. Warren’s view, the pharmaceutical industry has benefited from the largesse of publicly funded research, which has often allowed drug makers to profit from basic science that sometimes yielded big-selling medicines.

Yet most every large drug maker — and some smaller ones — has reached settlements with the feds in recent years and paid fines, but have otherwise not been penalized.

Pharmalot reports that Warren argues that if her Medical Innovation Act had been in place over the past five years, the NIH would have had an extra $6 billion annually to fund research grants, which she claimed would have represented a 20% increase in NIH funding.

To capture research funding, she wants to create the equivalent of a pharmaceutical “swear jar.”

For the full Pharmalot story, click here.

Pharmalot, a Wall Street Journal blog and a rich source of biopharma sector news, explores the fast-moving, complicated world that develops and markets medicines — and the drug makers that are attempting to replenish their pipelines while grappling with pricing and regulatory dictates, among many other challenges.

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