Export Potential For Australian Drug Industry

Enormous scope exists for increased exports of pharmaceuticals from Australia to the growing Asia-Pacific region, as well as to other countries, according to the Australian Pharmaceutical Manufacturers Association, provided the political, regulatory, R&D and marketing environment in which the Australian industry operates is right.

In fact, the association notes, a Price Waterhouse survey commissioned by the APMA in 1995 shows that companies are focussing on regional supply and marketing strategies, and that the recognition of the importance of Australia's location within the Asia-Pacific region is helping to offset the previously-perceived difficulty of the small size of the Australian market. However, it adds, such growth cannot be assumed. Indeed, given a "worst case" scenario, the industry could even diminish.

In trying to predict the future of the Australian pharmaceutical industry, the APMA considers that at least three possible scenarios need to be considered.