From the CEO
As the mining boom sputters out, Australia is taking a long-overdue look at ways to improve its competitiveness in a cut-throat global marketplace.
The global business environment is changing rapidly. The economic rise and technological advances of many Asian nations may open up new markets for Australia, but it is also introducing new competitors.
News and Updates
Restoring Australia’s Place as a Global Leader – we need to strengthen intellectual property protection - 26 November
Medicines Australia CEO Tim James today called on Government to strengthen Australia’s intellectual property (IP) system.
“IP is at the heart of innovation, and protecting it is critical for future economic growth in Australia,” Mr James told a Parliamentary Friends of Medicines event today.
“For a modern, knowledge-based economy like Australia’s, IP is a particularly valuable commodity, currently worth an estimated $250 billion to the economy, or nearly a fifth of the nation’s GDP.
A report released today has provided valuable insight into longevity in Australia, with years added to life expectancy for females and males living down-under.
The Australian Institute of Health and Welfare (AIHW) report, Healthy life expectancy in Australia: patterns and trends 1998 to 2012, shows life expectancy for males has increased by 4 years and 2.8 years for women.
Medicines Australia CEO, Tim James, has welcomed the report’s findings.
Medicines Australia CEO Tim James today welcomed the new Free Trade Agreement with China and another open door to growth for Australia’s pharmaceutical industry.
“The global market for medicines and vaccines is set to double over the next 10 years, with much of this growth coming from China and other emerging markets,” Mr James said.
“Australia is well-placed to capitalise on this growth. We are conveniently located and we have a world-class medical research infrastructure, a highly-skilled labour force and a well-established reputation around the world for manufacturing safe, high-quality medicines and vaccines.
Medicines Australia CEO Tim James today welcomed GSK Australia’s announcement to invest an additional $31 million in next-generation manufacturing technology at its site outside Melbourne.
“The pharmaceutical industry is already Australia’s largest exporter of manufactured goods. This latest investment by GSK Australia will further enhance the industry’s contribution to high-tech manufacturing, exports and expert capability,” Mr James said.