Low dollar tipped to stimulate biotech investment in Australia

Analyst commentary suggests the devaluation of the Australian dollar during 2014, has left biotech in a good position for investment as well as a target for takeovers and mergers.

Greg Collier, chief executive of Invion, speaking to the Australian Financial Review this week, said that the weaker Australian dollar will make clinical trial work more expensive, but may also motivate takeover activity with companies looking more attractive at 20% cheaper.

Despite some trial and regulatory set-backs of last year, the industry raised over A$450 million ($368.5 million) for the 12-month period and delivered some stand-out performances, according to a posting on trade group AusBiotech’s web site.