“Established companies and new ones work together, the academic community gets involved, and value is also added by the state’s comprehensive vendor network, and a strong manufacturing base," said Dean J. Paranicas, CEO of the HealthCare Institute of New Jersey. "The topping is the state’s position as a transportation hub, easy access to capital markets, and a diverse population. I’m excited about the future.”
There’s no question that life science, biotech and related companies have made significant advances in combating life-threatening illnesses and other conditions. But the industry in general appears to be falling short when it comes to recruiting and advancing women and other minorities, according to some government statistics.
The results from a joint NJBIA/Rutgers-Eagleton poll on April 10 captured the discontent of New Jersey residents. Yet here we are in the thick of budget season, with the call for more taxes in Gov. Phil Murphy’s proposed Fiscal Year 2020 budget, and not nearly enough in the way of structural reforms which are desperately needed to reverse New Jersey’s fiscal crisis.
Life science and biopharma companies have brought about significant changes in the approach to medicine, with innovative concepts like gene-based individualized treatments that have helped to shake the foundation of the healing arts. But some industry experts say that in 2019, the companies behind these kinds of advances will also have to contend with change on a different front: their business approach.
Pic Page photos from the April 22, 2019 issue of NJBIZ.