Medicines Australia also opposed to proposed changes to R&D Tax Incentive

Joining the protest a day earlier from AusBiotech, trade group Medicines Australia also says it is disappointed that proposed changes to the country’s Research and Development Tax Incentive were tabled without notice or consultation in the Parliament yesterday – despite the recommendations of a Senate Committee inquiry this year to defer the Bill until further consideration was given to the effects of the reforms.

This recommendation acknowledged that further tinkering with the R&D tax incentive creates business uncertainty especially when incentives are seen to be weakened and not strengthened.

Medicines Australia chief executive Elizabeth de Somer said: “It is troubling that the Bill persists with the  introduction of an intensity threshold for the research intensive pharmaceutical sector, which would diminish Australia’s attractiveness as a destination for clinical research at a time when we are seeking to expand Australia’s export capacity in the knowledge economy that includes clinical research expertise and infrastructure.”