Complementary investment
May 10, 2012
RESEARCH into complementary
medicines should be allocated a
chunk of the $760.5 million
National Health and Medical
Research Council (NHMRC) funding
dished out in the Federal Budget,
according to the Complementary
Healthcare Council of Australia.
Although welcoming the
Government’s NHMRC investment,
Dr Wendy Morrow, Executive
Director of the CHC, said that it will
be the allocation of this investment
that will be the key to ensuring
positive outcomes from the
funding.
“With the Complementary
Medicines Industry making up
around 12.5% of the entire
Medicines and Devices Industry, it
would be appropriate for this to be
reflected in the allocation of
research funding by NHMRC”
Morrow said.
“The CHC hopes that the
conclusions of the recent review of
NHMRC research priorities,
currently out for consultation, will
address concerns and result in a
more appropriate level of
investment in the industry”
Morrow added.
The CHC further argued that as
preventative health is increasingly
becoming a critical element in the
healthcare sector, it hopes that this
will be “reflected in the distribution
of the Government’s extended
investment in research and
development in this area”.
In its submission to the McKeon
Review of health and medical
research in Australia, the CHC
highlighted the highly competitive
nature of the complementary
medicines industry, worth US$83
billion annually and investment “in
which would assist in maintaining
Australia’s place on the world
stage”.
The above article was sent to subscribers in Pharmacy Daily's issue from 10 May 12To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 10 May 12
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