Health Industry Hub’s Post

Australia has world-leading #clinicaltrials infrastructure with streamlined regulatory approvals, R&D tax incentives, diverse patient populations, and world-class clinical investigators. But Australians can't take our competitive advantage for granted. The Asia Pacific region is driving significant growth in #biopharma #innovation. In 2013, Asia contributed around 20% to global biopharma innovation growing to nearly 40% in 2023. This rapid growth is set to continue with countries such as Singapore, South Korea, Thailand and Malaysia developing integrated and coordinated policies across different areas of government to attract more R&D investment and create further competitiveness. A strategic, coordinated, and whole-of-government approach is required to ensure we remain competitive and taxpayers and patients benefit from R&D investment. Thank you Rozalina Sarkezians and Health Industry Hub for the opportunity to have this discussion.