McKeon Review proposes boost of A$2-3 billion for Australian health and medical research

A discussion paper released this week by the by the Strategic Review of Health and Medical Research in Australia (known as the McKeon review) has proposed that at least 3% of government health expenditure be devoted to health and medical research, amounting to a A$2-A$3 billion ($2.08-$3.12 billion) boost over the next 10 years, a proposal that has been widely welcomed by the health and medical research communities in the country.

The paper also proposes reforms to the National Health and Medical Research Council, particularly replacing the existing Development Grants with a Matching Development Block Grant Scheme, which would offer around A$500,000 to each of the 20 consistently most successful NHMRC grant recipient organisations, reports Australian Life Scientist. It also suggests the formation of a Translational Development Fund specifically for early-stage development, offering a total of around A$250 million from the government matched with private sector funding, and structured to encourage investment from superannuation funds.

Pharmaceutical trade group Medicines Australia chief executive Brendan Shaw commented: “We are encouraged by the McKeon Review’s recognition of the importance of clinical research both as generator of economic benefit, but more importantly as a generator of health benefits for Australian patients, and the recognition of the important role the medicines industry plays in this. The recommendations to drive more collaboration in the health and medical research sector and encourage greater interaction with industry are important recommendations that warrant further attention.