Chrissy Buteas, President and CEO of the HealthCare Institute of New Jersey (HINJ), has voiced concerns over proposed rules related to prescription drug price transparency in New Jersey. These comments were submitted to the New Jersey Division of Consumer Affairs, which is considering formal adoption of these rules.
Buteas emphasized that reducing healthcare costs is a shared objective. She stated, "There are smart and efficient ideas that can immediately lower costs for patients without jeopardizing New Jersey’s global leadership in medical innovation or harming New Jersey’s 369,000 life sciences jobs or this $130 billion segment of our state’s economy."
She highlighted the complexities involved in drug development, noting that middlemen such as insurers and pharmacy benefit managers (PBMs) significantly influence medication pricing. Buteas remarked on the need for a comprehensive review by the Prescription Drug Affordability Council (PDAC), which she believes currently lacks representation from the life sciences community.
Buteas expressed apprehension about the proposed rules and their potential impact on innovation and employment within New Jersey's life sciences sector. She also raised issues regarding privacy and confidentiality concerning data submissions. "We urge the Division to seriously consider our submitted comments," she concluded.
