Australian medicines could lead the way for manufacturing in the "Asian century"

If supported by good public policy, medicines could play a significant role in ensuring Australia adapts to and thrives in the Asian century. This was the message conveyed to the Australian Prime Minister at her economic forum in Brisbane by the Generic Medicines Industry Association (GMiA).

Tim Oldham, president of Hospira Asia Pacific (the world’s largest manufacturer of injectable medicines and injection technologies) and representing the GMiA, highlighted that the leading manufacturing export industry of elaborately transformed goods in Australia is pharmaceuticals, employing more than 40,000 people domestically and contributing approximately A$4 billion in exports to the national trade balance.

The pharmaceutical sector - and, in particular the generic medicines industry - is a high value-add sector, delivering significant health and economic benefits to the Australian public in the context of an aging population. It is a high technology, low carbon industry with a highly skilled workforce that does not attract the subsidy support of the car or wine industries.