To Our New Jersey Life Sciences Community:
Welcome to another edition of the Weekender.
New Jersey’s life sciences footprint continues to expand with a number of great stories in the news this week…
The U.S. Food and Drug Administration (FDA) has approved Synjardy® (empagliflozin and metformin hydrochloride) tablets, from BioNJ Member Eli Lilly and Company and Boehringer Ingelheim Pharmaceuticals, for the treatment of adults with type 2 diabetes (T2D).
Valeant Pharmaceuticals International Inc. has leased another 310,000 square feet, doubling its footprint at Somerset Corporate Center in Bridgewater, less than two years after establishing its U.S. headquarters there. The long-term, 620,000-square-foot deal represents one of the largest office leases in recent years.This news comes on top of last week’s announcement that Valeant is acquiring Sprout Pharmaceuticals just one day after it won approval for its female sexual-dysfunction drug.
The National Science Foundation recently released its study on business R&D performance, tracking investments in myriad industrial sectors. Over $323B were invested in R&D in 2013, the most recent years available, and New Jersey ranks #5 nationally. These data reflect the large commercial and industrial R&D ecosystem in New Jersey across all industries. Click here to learn more.
A number of health care organizations in New Jersey are receiving an influx of cash, as two initiatives pump more than $2 million into the state to bolster treatment of so-called “vulnerable” populations. First, The Nicholson Foundation announced that it is working with nine organizations on a nearly $1 million initiative aimed at strengthening health care innovation. In addition, the U.S. Department of Health and Human Services awarded 18 health care centers around the State a total of just over $1 million to recognize their achievements in providing care. These initiatives are focused on Patient needs — which is what it’s all about!
NJBIZ just released New Jersey’s Top 100 Privately Held Companies and two BioNJ Members are on the list. Congratulations to McCarter & English LLP and WithumSmith+Brown P.C.
Click here to read this week’s Weekender.