Action Group boost for clinical trials investment
A new Federal Government initiative to raise Australia’s profile as a destination for clinical trials will help improve international competitiveness in the $1 billion pharmaceuticals R&D sector, Medicines Australia’s acting chief executive Brendan Shaw said today.
Dr Shaw said the clinical trials “Action Group” announced today by the Government will help ensure a viable future for clinical trials in Australia.
“I am greatly encouraged by the Federal Government’s commitment to a sustainable future for industry-sponsored clinical research in Australia,” Dr Shaw said.
“Australia attracts $1 billion a year in local and international pharmaceutical R&D investment, but we need to do more to remain competitive in a changing global environment.
“The Federal Government’s Action Group can help strengthen this country’s position as one of the world’s leading investment destinations for clinical trials.
“The pharmaceuticals industry invests hundreds of millions of dollars each year on clinical research in Australia.
“Apart from the economic benefits of this investment, there are tremendous health and professional opportunities for patients and medical researchers when global pharmaceutical companies conduct clinical trials here.
“If the Action Group succeeds in driving reform, it will be directly responsible for ensuring the retention of thousands of high-skilled Australian jobs and ensuring that we protect a significant investment in one of Australia’s most innovative and researchintensive industries.”
The Action Group, to be co-chaired by the Parliamentary Secretary for Health, Mark Butler and the Parliamentary Secretary for Innovation, Richard Marles, has been asked to identify better ways to approve, establish and conduct clinical trials.
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