Delivering commercial success from University research must involve the innovative research-based medicines industry

Medicines Australia welcomes the Federal Government review of University research funding and policy which aims to find more ways to turn the hard work of Australian scientists into commercial success.

Medicines Australia CEO Tim James said, “Australia’s Universities have a great reputation for research and development around the world but they have often found it hard to turn this into a commercial reality in Australia.”

“Science has the potential to be one of the great industries for the Australian economy that will only grow in importance as traditional industries such as mining and heavy manufacturing decline. However, for this to become a reality we need to see the good words of the Government become strong actions.”

“We welcome the appointment of Dr Ian Watt AO to lead the review into University research funding and policy, however, it is disappointing that the review panel will not include a single member from a research-based industry such as the makers of innovative medicines.”

“Our members spend a billion dollars every year on research and development in Australia and they rely on world class scientists to help create the next generation of medicines and therapies for the Australian people.”

“Medicines Australia is keen to work with Dr Watt and his team and will provide whatever expertise and insights we can to ensure that this review is a success.”

“For Australia to reap the financial rewards of scientific research we need to see more collaboration between Universities and industry, especially in medical and pharmaceutical research and development.”

“Not only will this be good for the Australian economy, it will also mean Australians get better, faster access to innovative medicines in the future.”

“Medicines Australia is pleased to see that both the Government and the Labor Opposition have developed a keen interest in science and innovation. This is a good sign for the Australian economy and we look forward to working with all sides of politics to develop policies that boost the economy and make Australia world leaders in the scientific development of medicine.”

Contact Person:

James Boyce
Phone: 0423 239 265
Email: James.Boyce@medicinesaustralia.com.au