Australian R&D tops $1 billion

October 14, 2011

THE latest figures from the annual Australian Bureau of Statistics business expenditure report on research and development show that the Australian medicines industry’s R&D investment exceeded $1 billion for the 2009-10 period . The figures mark the second successive year that Aussie medicines R&D has hit the magic $1 billion mark, with the industry’s investment coming in as the third largest by area of business expenditure. “These figures confirm Australia’s reputation as a global centre for R&D excellence,” said Medicines Australia CEO Dr Brendan Shaw. “This is a strong performance and we can consolidate it if we continue to take steps towards maintaining Australia’s global competitiveness as a destination for R&D investment. “The R&D tax credit is one policy setting that will boost investment in Australian R&D,” he added.

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Pharmacy Daily | Australian R&D tops $1 billion

Australian R&D tops $1 billion

Other recent headlines

PD breaking news – Queensland pharmacies scope of practice pilot expanded

Commbank to help navigate ownership

Littleproud visits Orana Mall

SEARCH PHARMACY DAILY

Featured video

Recent issues

INDUSTRY JOB VACANCIES