New report boost for $1bn clinical trials industry
The release of the Federal Government’s Clinical Trials Action Group Report clears a path for Australia to become more competitive in attracting global R&D investment, Medicines Australia chief executive Dr Brendan Shaw said today.
The Report was released at last night’s Medicines Australia Parliamentary dinner by the Minister for Innovation, Industry, Science and Research Senator Kim Carr.
The Clinical Trials Action Group was set up in October 2009 to help boost Australia’s position as a preferred destination to conduct clinical trials.
Dr Shaw welcomed the report, which carries more than 20 recommendations, largely aimed at improving patient recruitment and introducing a more efficient process of initiating new clinical trials in Australia.
“Medicines Australia strongly supports this report,” Dr Shaw said.
“The recommendations represent a precious opportunity for Australia to reinvigorate its $1 billion clinical trials industry and ensure we can better compete in the world market for R&D investment.
“Implementing these measures will help keep Australia at the forefront of medical research.
“I am greatly encouraged that the Government has set itself a deadline of July 2011 to implement many of the recommendations.
“This commitment should send a strong signal to investors that Australia wants to do business as a clinical trials destination.
“I hope we will soon start to see a turnaround in the recent decline in clinical trial numbers in Australia. This can only happen if Government sticks to its timeline.
“I welcome the Government’s commitment to support Australia’s clinical trials industry. I also congratulate and the Members of the Clinical Trials Action Group on a thorough and very constructive report.
“We look forward to working closely with the Australian Government to ensure the timely implementation of report’s recommendations.”
More than 18,000 Australian patients are given early access to innovative medicines and diagnostics through clinical trials each year.
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