Chrissy Buteas, President and Chief Executive Officer of the HealthCare Institute of New Jersey, released a statement on April 2 regarding the recent announcement about Section 232 tariffs affecting pharmaceuticals, aluminum, copper, and steel.
The issue is significant for the life sciences sector in both New Jersey and across the United States. Tariffs on ingredients or raw materials used to produce medicines and medical devices could impact national security, economic growth, and patient access to treatments.
“America’s and New Jersey’s life sciences are fundamental to our national security and economic growth, but even more importantly, to patients worldwide who are desperately awaiting the next breakthrough treatment or cure. Tariffs on the ingredients or raw materials that produce those life-saving medicines, medical devices or innovative technologies will harm America’s global leadership, New Jersey’s workforce and economy, and dash the hopes of patients everywhere,” Buteas said.
She continued by saying that as life sciences companies work to expand domestic research and manufacturing capabilities—efforts that support national security and jobs—tariffs become a barrier. “This is particularly true for the small and mid-sized innovative companies, many of which are here in New Jersey, whose R&D investments are so significant they can’t absorb rising costs or rapidly shift manufacturing strategies while still delivering for patients.”
Buteas concluded: “We remain committed to working with policymakers on solutions that lower barriers to innovation, accelerate the development of new treatments and cures, and reinforce the United States’ and New Jersey’s global leadership in biopharma and medical technology innovation.”
The HealthCare Institute of New Jersey contributes to public health education initiatives advancing biopharmaceutical progress according to its official website. The organization operates as a nonprofit dedicated to promoting policies supporting innovation within life sciences according to its official website. It also engages in advocacy at state and federal levels aimed at fostering policy environments conducive to scientific advancement according to its official website.
Additionally, HINJ works toward building alliances that enhance healthcare innovation according to its official website, functions as a trade association focused on biopharmaceuticals and medical technology according to its official website, with headquarters located in Princeton according to its official website.
