Medicines Australia urges Parliament to legislate the Medical Research Future Fund

Medicines Australia, the representative body for the pharma industry, has tabled a submission to urge the Australian parliament to pass legislation creating the Medical Research Future Fund (MRFF).

If the MRFF is to succeed, however, it needs close collaboration with Australia’s innovative medicines industry to create an environment in public and private research which can deliver the results that Australian patients need.

Tim James, chief executive of Medicines Australia, said: “We are keen to work with the Australian government to make this research fund a reality. The MRFF will help to assist growth in Australian exports through commercialization of new therapies and meet global health needs, including generating economy wide dividends for Australia. To ensure the greatest value from the MRFF, Medicines Australia recommends involvement of relevant partners to ensure alignment between the MRFF and the Medical Technologies and Pharmaceuticals Growth Centre, and importantly consultation on policies to improve Australia’s competitiveness through innovation, for instance R&D credits and clinical trial reforms. It’s important that government collaborates with Industry to discuss and develop how to leverage growth in medical research funding to ensure we can commercialise it for the benefit of Australia and build our innovative economy."