Australia's Pharmceuticals Industry Council to cease operation

The Pharmaceuticals Industry Council, a collaboration representing Australian biotech and pharma industry bodies, and consisting of AusBiotech, the Generic Medicines Industry Association and Medicines Australia, has ceased operations.

It was formed in 2006, following the conclusion of the three-year implementation of the Australian government-endorsed Pharmaceuticals Industry Action Agenda (PIAA) in 2005. Its aim was to build on the PIAA vision of doubling Australia’s share of the global pharma industry by 2012.

The Pharmaceuticals Industry Council made various contributions to policy development in Australia, including the sustainability of the Pharmaceutical Benefits Scheme and Australia’s ability to attract pharma investment. It played an important role in securing the agreement of successive governments to implement major reforms to make it more efficient to conduct clinical trials in Australia. It also helped secure the introduction of the R&D Tax Incentive in 2011.