R&D’s long-term value
October 20, 2010
AUSTRALIA’S investment in
medical research provides
“enormous returns” according to
Medicines Australia ceo, Dr
Brendan Shaw.
The statement comes on the
back of the latest Lateral
Economics report which found that
the medicines industry invested
more than $1.023 billion in R&D in
2008-09, up $94 million or 10 per
cent from the previous year.
“[The report] highlights the
importance of a stable, long-term
R&D policy environment,” said
Shaw.
“We simply can’t afford
Australia’s R&D investment
commitment to be compromised by
short-term fiscal challenges,” he
added.
Shaw also said that Australia
must begin to capitalise on the fact
that it has “some of the world’s best
research capability and
infrastructure”.
“We must do all that we can to
ensure that we keep more of our
top research scientists engaged in
Australian R&D and attract greater
funding to our universities and
other research institutions,” he said.
“Ensuring an efficient regulatory
environment for clinical research
and implementing the R&D tax
credit system are two examples of
policy settings that would greatly
support Australian R&D,” he added.
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