Regulatory reform features in Australia's Federal Budget applauded

This week's Federal Budget revealed a welcome response to the Review of Medicines and Medical Devices Regulation (The Pharma Letter May 3), that will provide industry with savings of around A$75 million (~$57 million) per annum, by reducing red tape and regulation on the pharmaceutical and medical device industries, commented trade group AusBiotech today.

The government advised at the Health Budget Briefing on Tuesday night that life-saving medicines and medical devices will come onto the Australian market faster, some by more than two years, through removing or streamlining unnecessary or inefficient processes identified through the Review of Medicines and Medical Devices Regulation.

AusBiotech chief executive Anna Lavelle said: “This announcement provides evidence that AusBiotech’s extensive advocacy in this regard has been valued and puts the medicines and medical devices sectors front and centre, benefiting the industry with less confusion and red tape, speed, education, and efficiency.”