Could Publicly Funded Medtech Face Price Controls in NJ?

New Jersey Senate Bill 977 (S977), which seeks to prohibit “excessive charges for drugs developed by publicly funded research,” includes “other health care technology” and could therefore impact medtech.

Dean J. Paranicas, president and CEO of the HealthCare Institute of New Jersey (HINJ), tells MD+DI that “S977 would apply only to medical technology approved by the FDA that was developed in its entirety or partially, directly or indirectly, with federal or State funds. The bill would not apply to technology developed without public assistance.” This legislation only applies to products sold in New Jersey, he explained.