“Industry Innovation Competitiveness Agenda” applauded by Medicines Australia

The Australian government’s Industry Innovation and Competitiveness Agenda and the announcement of five industry growth centers released today has been welcomed by trade group Medicines Australia’s chairman Martin Cross.

“Australia is uniquely placed to harness our competitive advantages, particularly in the medical technologies, pharmaceuticals and advanced manufacturing sectors,” Dr Cross said, adding: “The industry is heartened by the policies being put into place that will make Australia a more attractive investment destination. I am particularly encouraged by the government’s commitment to support growth in Australia’s medical technologies, pharmaceuticals and advanced manufacturing sectors, when the global market for medicines and vaccines is projected to double over the next 10 years. With much of the growth coming from Asia, Australia is well-placed to capitalise on this growth.”

With right policies, Australia could double its medicines and vaccines exports

Dr Cross continued: “We are not only conveniently located but we also have a world-class medical research infrastructure and a well-established reputation in the region for manufacturing safe, high-quality medicines and vaccines. With the right policies in place, like those announced by the government today, Australia could double its exports of medicines and vaccines products by 2024. We could also double the level of investment Australia attracts in pharmaceutical R&D and clinical trials.”