10-year plan for pharmaceuticals industry released

A report outlining a 10-year plan for the pharmaceuticals industry has been produced by the Pharmaceuticals Industry Strategy Group, which was co-chaired by Dr Brian McNamee, CEO and Managing Director of CSL Limited.

"The pharmaceuticals industry is important to Australia. Not only does it provide high-wage, high-skill jobs for 40,000 people, it is Australia's second largest exporter of manufactured goods and spends $860 million annually on research and development," Senator Kim Carr, Minister for Innovation, Industry, Science and Research, said when releasing the report.

The group's recommendations aim to help secure the Australian pharmaceuticals industry's future through attracting investment in high-value research and development, clinical trials and specialised manufacturing activity.

"The government is committed to setting the right conditions to boost the growth of knowledge-intensive, globally integrated industries, like pharmaceuticals, that deliver economic and social benefits to the community," Senator Carr said.

The report recommends:

• implementation of measures proposed by the Review of the National Innovation System;
• streamlining the regulatory and operating environment for clinical trials; and
• a co-investment scheme for strategic projects.

A copy of the report is available.