Attracting pharma R&D to Australia
The chairman of the pharmaceutical industry association Medicines Australia, Will Delaat, has outlined a three-point plan to attract substantial international investment in clinical research for Australia. Speaking at the fourth annual R&D Taskforce Forum in Sydney, Mr Delaat said Australia was well placed to win clinical research investment from regional competitors such as India and China.
Global pharmaceutical companies already invest A$1.0 billion ($699.7 million) a year in R&D in Australia. The sector also has around 14,000 employees. However, Mr Delaat said that the country urgently needs to reform the regulatory framework for clinical trials to protect and build on that investment.
Mr Delaat urged both state and federal governments to:
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