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Why Innovation?
Creating an environment that fosters innovation is a prerequisite to having a competitive business climate and economic growth. Being innovation-friendly attracts research and investment; provides incentive to expand or relocate; creates jobs and ultimately leads to new cures, technologies and products to improve our quality of life.
Innovation Time Line
Below is a timeline of innovation advancement. Click on the page for a larger view.
Member Profiles

HINJ Op-Ed: NJ Remains ‘Medicine Chest of the World’; State Leaders Work to Keep It That Way

Asbury Park, NJ, November 20, 2014 ― The Asbury Park Press has published an op-ed by HealthCare Institute of New Jersey (HINJ) President and Chief Executive Officer Dean Paranicas regarding New Jersey’s “2.0 business environment” and its impact on the state’s life sciences community.

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There have been reports that claim that New Jersey is no longer the pharmaceutical powerhouse it used to be, including a recent Asbury Park Press story by Michael L. Diamond (“What NJ Needs to Learn from Other States,” October 18, 2014).

We disagree.  To paraphrase Mark Twain, reports of New Jersey’s demise are greatly exaggerated.

For decades, New Jersey has rightly earned its reputation as the “Medicine Chest of the World” — and our state leaders are working with the life sciences industry to keep it that way. Read the rest of this entry »

Tufts: Cost to Develop, Get Approval for a New Drug Is $2.6 Billion

Boston, MA, November 18, 2014 ― Developing a new prescription medicine that gains marketing approval, a process often lasting longer than a decade, is estimated to cost $2,558 million, according to a new study by the Tufts Center for the Study of Drug Development.

The $2,558 million figure per approved compound is based on estimated:

  • Average out-of-pocket cost of $1,395 million
  • Time costs (expected returns that investors forego while a drug is in development) of $1,163 million

Read the rest of this entry »

Retiring Congressman Rush Holt to Head American Association for the Advancement of Science

Washington, DC, November 18, 2014 ― The Star-Ledger reports that U.S. Representative Rush Holt (D-NJ-12) will return to his science roots after his retirement from Congress and lead the world’s largest general scientific organization as chief executive officer.

Beginning in February, Holt will serve as the new CEO and executive publisher of the American Association for the Advancement of Science, a 166-year-old nonprofit which publishes some of the most-read scientific journals in the world, the association announced on Tuesday. Read the rest of this entry »

NJCU speaker series will host Dr. Michio Kaku

Jersey City, NJ, November 17, 2014 – In honor of New Jersey’s 350th Anniversary, the New Jersey City University (NJCU) Presidential Speaker Series will feature Dr. Michio Kaku at the Liberty Science Center on December 9th, 2014.

An acclaimed physicist, futurist, author, and radio and television personality, Dr. Kaku has been called the a modern-day Einstein. Dr. Kaku is the author of numerous New York Times best-selling books, including his most recent, The Future of the Mind: The Scientific Quest to Understand, Enhance and Empower the Mind.  The theoretical physicist and science popularizer has starred in science programs on the Discovery Channel, the Science Channel, BBC, ABC and the History Channel. He is a regular guest on news programs including those on CBS, Fox, CNBC, MSNBC and CNN, and has appeared on major talk shows including “The Daily Show with Jon Stewart,” “The Colbert Report,” “The Late Show,” “The Tonight Show,” and many others.

“What better way to celebrate New Jersey’s 350th birthday than to invite everyone to join us for three unforgettable evenings that bring to our community luminaries who share their thoughts on liberty, innovation, and diversity – three building blocks that have defined our state from its earliest days,” said Dr. Sue Henderson, NJCU president and host of the lecture series.

Following Dr. Kaku’s lecture, there will be a private VIP Meet & Greet Reception, which will include a special New Jersey birthday cake created by New Jersey’s own Cake Boss, Buddy Valastro of Carlo’s Bakery. VIP tickets include priority seating and refreshments.

For more information, call 201-200-3196 or click here.

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