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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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Studies: Pharma Promo Spending Down 8% in ‘12; Survey Finds Interest in Virtual Sales Calls

Norwalk, CT, March 20, 2013Pharmaceutical Commerce reports that Cegedim Strategic Data’s (CSD, Jersey City, NJ) annual summary of promotional spending showed a nearly across-the-board decline in 2012.  The year’s total spending of $27.35 billion dropping by 8% from 2011, which also had experienced a spending decline of 3 percent.

 CSD bases its data on a global panel of about 200,000 healthcare providers annually, getting responses on numbers of rep calls, quantities of samples handed over, meetings attended and so forth.

 Despite the downward spending trend of the past two consecutive years, Jerry Maynor, CSD’s business development director, expects a turnaround in 2013 due to the increased number of new product launches over the past few months, and some major new ones expected this year.

 Meanwhile, Pharmaceutical Commerce further reported that another market researcher, MD Mindset (Whitehouse Station, NJ) has polled its panel of US physicians to see the impact of virtual sales calls (which occur via online presentations).

 As of December 2012, when the survey was conducted, 59 percent of physicians had “never” or “rarely” experienced a virtual sales call.  However, 70 percent said they are “likely” or “possibly” willing to do so.

 Of the relatively small number who have experienced a virtual call, reactions were mostly positive.  The optimal duration of the call should be 2-5 minutes, and the majority of all physicians preferred a schedule time of the call.

To read the complete story on Pharmaceutical Commerce’s site, click here.