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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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Prescription Drugs

PhRMA Launches ‘Share the Savings’ Campaign to Urge Payers to Share Negotiated Discounts with Patients

Washington, DC, April 7, 2017 — The Pharmaceutical Research and Manufacturers of America (PhRMA) yesterday unveiled “Share the Savings,” a new campaign to educate the public about the lack of rebate pass-through for commercially insured patients with high deductibles and coinsurance.

Robust negotiations between biopharmaceutical companies and health plans result in significant rebates and discounts.

According to a recent study from the Berkeley Research Group, more than a third of the list price for brand medicines is rebated back to payers and the supply chain.  Continue reading

PhRMA: Partnership for Prescription Assistance: 2016 in Review

Washington, DC, March 1, 2017 — More than a decade has passed since the Partnership for Prescription Assistance (PPA) launched.

In this time, PPA has helped nearly 10 million patients through its free and confidential program, but last year was a particularly special year for the program.

The PPA website added hundreds of new medicines, prescription assistance programs and free clinics to its database, which now serves an average of 75,000 visitors every month, up from 60,000 last year. Continue reading

Assemblyman Singleton’s ‘Prescription Drug Transparency Act’ Clears Assembly Panel

Assemblyman Troy Singleton

Trenton, NJ, February 2, 2017 — An Assembly panel on January 30 approved legislation Troy Singleton sponsored to require pharmacy benefits managers to disclose certain information to benefit plan purchasers and to establish toll-free telephone number for certain inquiries.

The Assembly Financial Institutions and Insurance Committee released the bill in an afternoon meeting.

It now goes to the Assembly Speaker for further consideration.

The bill (A4338), also known as the “Prescription Drug Transparency Act,” would supplement current law by requiring pharmacy benefits managers (PBMs) to disclose certain information about prescription drug pricing and generic substitutions to benefit plan purchasers. Continue reading

PhRMA: First-of-Its-Kind Study Shows Growing Share of Medicine List Prices Going to Rebates and Supply Chain

PhRMA Supply Chain Report 20170118Washington, DC, January 20, 2017 — Robust competition in the private marketplace is resulting in increasingly higher rebates and discounts on medicine prices, according to a new study by the Berkeley Research Group (BRG).

The Pharmaceutical Research and Manufacturers of America (PhRMA) commissioned the study.

The study is among the first to examine the share of prescription medicine spending retained by biopharmaceutical companies, generic manufacturers, pharmacy benefit managers (PBMs), health plans and other stakeholders in the supply chain. Continue reading

HHS: Nearly 12 Million People with Medicare Have Saved $26 Billion on Prescription Drugs Since 2010

Medicare 1Washington, DC, January 16, 2017 — The Department of Health and Human Services on January 13 released new information that shows that millions of seniors and people with disabilities with Medicare continue to save on prescription drugs and see improved benefits in 2016 as a result of the Affordable Care Act.

More than 11.8 million Medicare beneficiaries have received discounts over $26.8 billion on prescription drugs — an average of $2,272 per beneficiary — since the enactment of the Affordable Care Act.

In 2016 alone, over 4.9 million seniors and people with disabilities received discounts of over $5.6 billion, for an average of $1,149 per beneficiary. Continue reading

PhRMA Report Highlights More Than 250 Vaccines in Development

Vaccine kidWashington, DC, December 31, 2016 — Hannah Mooney writes on the Pharmaceutical Research and Manufacturers of America’s (PhRMA) blog, The Catalyst, that, more than 200 years ago, the first vaccine was developed for smallpox, and now, the disease has been eradicated worldwide.

In addition, in the United States, the transmission of poliovirus, measles and rubella have been eliminated.

These are examples of tremendous scientific progress, and through our growing understanding of how these and other diseases work at the molecular level, many new therapeutic and preventative vaccines have been developed. Continue reading

BIO Launches Video Explaining How Drug Costs Are Really Determined

BIO Logo New NameWashington, DC, November 9, 2016 — Today, much of the public debate surrounding the cost of biopharmaceuticals is focused on the list price of an individual drug or treatment regimen.

However, the list price is not what a manufacturer generally makes on the drug, and it typically has little to do with what a patient has to pay for his or her medicine.

To help put this debate into context, the Biotechnology Innovation Organization (BIO) is releasing a new educational video today designed to give patients, consumers, policy makers and journalists a better understanding of how prescription drug costs are really determined and where the pharmaceutical dollar actually goes. Continue reading

Minority Leader Pelosi Predicts 21st Century Cures Bill ‘Will Pass’ This Year

Capitol Dome HEALTHCAREWashington, DC, October 21, 2016 — Sarah Ferris reports in The Hill reported that House Minority Leader Nancy Pelosi (D-Calif.) is predicting that the latest version of the 21st Century Cures bill would have enough votes to pass this year.

Pelosi said during a press conference on Wednesday that she would “build consensus” on a new version of the medical cures bill, which is expected to come up in a lame-duck session of Congress.

The bill passed almost unanimously in the House last summer but has stalled in the Senate over concerns on how to pay for a half-decade’s worth of new research spending, totaling roughly $9 billion. Continue reading

CMS Releases Prescription Drug Cost Data; Annual Data Release Provides Clearer Look into Medicare Part D Costs

Medicare Part D 1Washington, DC, August 18, 2016 — Continuing the commitment to greater data transparency, the Centers for Medicare & Medicare Services (CMS) today released privacy-protected data on the prescription drugs that were paid for under the Medicare Part D Prescription Drug Program in 2014.

This is the second release of the data on an annual basis, which shows which prescription drugs were prescribed to Medicare Part D enrollees by physicians and other healthcare professionals.

“With this data release, patients, researchers and providers can access valuable information about the Medicare prescription drug program,” said Niall Brennan, CMS Chief Data Officer.  “Today’s release joins a series of actions the Administration is taking to improve transparency around government data, including the cost of prescription drugs.” Continue reading

PhRMA’s The Catalyst: Study Finds Actual Cost of 14 New Medicines Is Billions Less Than Predicted

PhRMA jpgWashington, DC, August 17, 2016 — Holly Campbell writes on the Pharmaceutical Research and Manufacturers of America’s (PhRMA) blog, The Catalyst, that, a forthcoming study will disprove – once again – misleading claims pharmacy benefit managers and insurers, among others, routinely make about spending on new innovative medicines.

The Partnership for Health Analytics Research (PHAR) conducted an analysis of predictions of health care costs made prior to the introduction of 14 new medicines and found they were often dramatically overestimated.

In the case of new cholesterol-lowering medicines, called PCSK9 inhibitors, the Institute for Clinical and Economic Review predicted the one-year cost of the two PCSK9 inhibitors would be $7.2 billion. In reality, based on reported sales, the actual cost will be approximately $83 million, an overestimate of $7.1 billion. Continue reading