SENATOR CARR RELEASES PHARMACEUTICAL INDUSTRY DRAFT REPORT
October 23rd 2008 09:08
Monday October 20, 2008
Daily news on ASX-listed biotechnology companies
* ASX UP, BIOTECHS DOWN: BENITEC UP 22.5%, OPTISCAN DOWN 33%
* SENATOR CARR RELEASES PHARMACEUTICAL INDUSTRY DRAFT REPORT
* TISSUE THERAPIES CLAIMS VITROGRO WOUND HEALING ‘EXCEPTIONAL’
* SWITZERLAND APPROVES PHARMAXIS’ ARIDOL TEST
* CYCLOPHARM $3.2m RIGHTS ISSUE ‘FULLY UNDERWRITTEN’
* BIODIEM NOBILO US CENTRES EXTEND FLU VACCINE AGREEMENT
* PEPLIN COMPLETES $US6.7m NEOSIL ACQUISITION
* HEARTWARE GRANTED QUALITY MANAGEMENT CERTIFICATE
* FERMISCAN’S SYDNEY CLINIC TESTS BREAST CANCER
* GIACONDA CHAIRMAN RICHARD WOODS RESIGNS
* PRANA AGM TO INCREASE SHARE POOL 50%; ISSUES 2m OPTIONS
* GBS VENTURE PARTNERS APPOINTS DR GEORGE MORSTYN DIRECTOR
* ELLEX APPOINTS TWO DIRECTORS, ADVISER
* BIOSCEPTRE APPOINTS DR PAUL KELLY DIRECTOR
* AUSBIOTECH’S ‘BUILDING A BIO-ECONOMY’ CONFERENCE
To read all these articles in full, subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
PHARMACEUTICALS INDUSTRY STRATEGY GROUP
The Minister for Innovation, Industry, Science and Research, Senator Kim Carr, has released the draft directions paper from the Pharmaceuticals Industry Strategy Group.
“I'm glad to see that the pharmaceuticals industry has been able to come together to develop a 10 year plan to attract investment in [research and development], clinical trials and manufacturing activity in Australia,” Senator Carr said.
The Strategy Group, co-chaired by Dr Brian McNamee and the Department for Innovation, Industry, Science and Research’s head of innovation Craig Pennifold, is made up of industry and union leaders and worked together to generate ideas about a sustainable future, focusing on what Australia does best, world class research and development and high quality manufacturing capabilities, Senator Carr said.
The Strategy Group is due to submit the final report at the end of the year.
In their introduction Dr McNamee and Mr Pennifold said the pharmaceuticals industry “faces significant changes in the global operating environment”.
“These have been triggered by the increasing cost of drug development, falling R&
productivity, rapid technological change, increasing regulatory pressures and evolving health procurement practices,” they said.“The future of the Australian pharmaceuticals industry will be determined principally by how it responds to these global challenges, none of which are easily ameliorated by national governments.”
They said the Australian Government had a role to play in supporting the transition to a more technologically sophisticated, knowledge intensive, industry more resilient to external shocks and better able to thrive under these pressures.
“A … sustainable pharmaceuticals industry requires:
* predictable, timely and transparent regulatory and reimbursement systems that provide companies with a clear and streamlined path to market;
* an appropriate and balanced intellectual property regime;
* strong and effective capital markets that will fund high risk projects that are of high quality and have potential commercial returns;
* competitive taxation arrangements that provide incentives for companies to invest in relatively high risk activities like research and development or complex, value adding pharmaceutical manufacturing;
* an appropriately resourced tertiary education sector capable of producing high quality, job ready, science and medical research graduates; and
* strong and effective collaboration between industry and academic research.
Dr McNamee and Mr Pennifold said the Group measures would increase investment in the industry and leverage its research base to compete as a centre for high quality research and development, clinical trials and value added niche manufacturing.
The measures include:
1) encouraging strategic investment in research and development, manufacturing and infrastructure;
2) increasing Australia's attractiveness as a location for clinical trials and
3) improving pharmaceuticals skills and education.
“The Group does not view these three measures as alternatives, but rather as part of an integrated package. Measures 2 and 3 are not costly and should be pursued.
“The first measure is likely to be the most costly. Hence, while it can also be expected to deliver the largest net economic and social benefit, it will require more scrutiny in the context of broader Government priorities.
“The Group is aware that the broader innovation framework is being examined in another forum. Pharmaceuticals is an innovation-intensive industry, likely to be affected by changes in Australia's National Innovation System,” Dr McNamee and Mr Pennifold said.
The co-chairs said the Group focused its recommendations on those it considered had a significant likelihood of delivering at least initial net economic and social benefit in the short to medium term.
To read all these articles in full, subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
| 18 |
| Vote |
Add To: 
subscribe to this blog