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Developing Australia's pharmaceuticals industry.



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DEVELOPING AUSTRALIA'S PHARMACEUTICALS INDUSTRY

Australia's pharmaceuticals industry is aiming to claim twice its current share of the global market by 2010. 5 October 2001

5 October, 2001            01/453

DEVELOPING AUSTRALIA’S PHARMACEUTICALS INDUSTRY

Australia’s pharmaceuticals industry is aiming to claim twice its current share of the global market by 2010. The starting point for the development of the Pharmaceuticals Industry Action Agenda is a ground breaking discussion paper released today by the Minister for Industry, Science and Resources, Senator Nick Minchin.

Senator Minchin said the paper views the industry as part of a global value chain linking basic research through manufacturing to sales.

“The industry already exports $1.8 billion a year, employs over 14,000 Australians and involves partnerships between pharmaceutical companies and the Australian biotechnology and research community,” Senator Minchin said.

Industry leaders will attempt to double Australia’s share of the global pharmaceutical industry by:

building on its world leading R&D capability; ● developing Australia as a key global exporter; ● increasing investment in Australia to exploit innovation and knowledge; and ● providing innovative health care solutions that improve people’s lives. ●

"The paper is intended to stimulate debate on the actions required to meet these challenges," Senator Minchin said.

The paper has been prepared to support an Action Agenda for the pharmaceuticals industry and examines the industry from a global value chain perspective where each stage in the discovery, development and production of a medicine has a unique market.

Action Agenda Leaders Group chairman Dr Graeme Blackman believes a truly global pharmaceuticals industry is emerging, characterised by the ever-increasing flow of intellectual and investment capital.

“Australia needs to find its place by capitalising on its strengths in basic research, Intellectual Property protection, cost-effective structures, and quality of life," Dr Blackman said.

"We need to strengthen the willingness in all parts of the industry to seek out and develop new

partnerships. This may require a change in the way we think about doing business,” he said.

“I encourage everyone to play a part in the action agenda process by reading and commenting on the paper,” Senator Minchin said.

The Discussion Paper is available from the Department of Industry Science and Resources on (02) 6213 6347 or on the Pharmaceuticals Industry Action Agenda Website at www.isr.gov.au/agendas/sectors/Pharmaceuticals.

Contacts: Jennifer Eddy, Senator Minchin’s Office, 02 6277 7580

Dr Graeme Blackman, Chairman, Pharmaceuticals Industry Action Agenda, 03 9801 8888

Craig Pennifold, Department of Industry, Science and Resources, 02 6213 7580

CMR492-01

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