Focus Reports Ltd. Releases New Australia Pharmaceuticals Report
London, February 1st 2013 – The transformation of the Australian healthcare industry has made it a beacon of modernisation. Reinventing itself as a high value manufacturing hub, and putting emphasis on discovery, research and innovation, the industry has been able to curb the exodus of MNCs to the emerging markets, and developed a biomeds industry that is the envy of the world. AstraZeneca’s recent AUSD 80 million investment into production is an indication of the industry’s health.
However, while Medicines Australia harbours an ambitious 10 year plan to double manufacturing, R&D and exports, some are pointing to the reforms of the PBS as a possible fly in the ointment. With the rise of generics, dropping prices, and some of the most demanding criteria for reimbursement in the world, the last year has seen redundancies and discontent amongst pharmaceutical companies.
Can Australian pharma, or will it be derailed by the regulators ?