Gov. Mikie Sherrill touted New Jersey’s leadership in the life sciences industry during a forum hosted by the HealthCare Institute of New Jersey on March 13 that focused on the sector’s role in both global health and the state’s economy.
The event, titled “Pulse: Saving Lives Globally, Driving Our Economy Locally,” was held at Middlesex College and brought together industry leaders, policymakers and academic officials to discuss the state of New Jersey’s life sciences sector and its future growth.
ROI-NJ was on site at the event, where Sherrill delivered keynote remarks emphasizing the industry’s longstanding presence in the state and its impact on innovation and job creation.
“From the band-aid to immunotherapies, New Jersey is leading the world in curing diseases and helping people live longer, with less pain and greater independence,” Sherrill said. “Our life sciences companies invest billions of dollars and untold research hours at a breakneck pace to discover new treatments and medical technologies that save patients’ lives across the country and the globe.”
New Jersey’s life sciences sector includes more than 2,400 firms and a large research workforce, according to HINJ.
Chrissy Buteas, president and CEO of the organization, said the state’s long history in pharmaceutical research continues to drive innovation and economic growth.
“We’ve been at the cutting edge of innovation for a century and want to continue to do that by working collaboratively with our academic institutions, our labor partners, as well as our pharmaceutical industry, who are discovering new drugs each and every day to improve the lives of patients not only here in New Jersey, but around the world,” she said.
Innovation and research leadership
The forum featured two panel discussions examining both the future of medical innovation and the policy environment shaping the industry.
The first panel, moderated by Kyle Sullender, director of government and external relations at HINJ, focused on emerging treatments and research advances. Speakers included Peter Mesenbrink, executive director of biostatistics at Novartis, and Emily Meyers, executive director of the New Jersey chapter of the Arthritis Foundation.
Meyers said collaboration between patient advocacy organizations and the life sciences sector is critical in shaping research priorities and accelerating the development of new therapies.
Policy and economic outlook
The second panel addressed the policy and economic forces influencing the state’s innovation economy.
Moderated by Michele Siekerka, president and CEO of the New Jersey Business & Industry Association, the discussion included leaders from academia, industry and labor.
Panelists included William F. Tate IV, president of Rutgers University; Ali A. Houshmand, president of Rowan University; Christopher Paladino, president of New Brunswick Development Corporation; Cyndie Williams, executive director of the Carpenter Contractor Trust; and Dan Leonard, executive director of We Work For Health.
Buteas said the event underscored the importance of collaboration across industries and sectors.
“It’s really important that we’re gathering here today so that we bring everybody who touches this really important industry together in one room, so that we create those partnerships and collaborations and continue to create that innovation ecosystem that New Jersey has been known for, and that we’re going to continue to build again for generations to come,” she said.
She added that the sector plays a significant role in the state’s economy.
“We employ both directly and indirectly over 350,000 jobs,” Buteas said. “We bring billions of dollars of investment into the state, and without working together, we might see that to not only other states but also to other countries.”
Maintaining New Jersey’s competitive edge
Policy decisions at both the federal and state levels will play a key role in maintaining the state’s position as a life sciences leader, she said.
“New Jersey has been the innovation state known as the medicine chest of the world, but policy matters,” Buteas said. “We want to make sure that when we’re thinking about federal and state policy, that we are incentivizing innovation to take place here in the state, and that we continue to be a global leader in this really critical industry that saves folks’ lives.”
Looking ahead to the rest of the year, Buteas said industry leaders remain optimistic but are closely watching policy developments that could affect research and investment.
“We have a hopeful, positive outlook looking forward,” she said. “But certainly any type of policy that would impede upon any innovation, such as mandated drug pricing, will have a detrimental impact on that innovation and discovery.”
