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Medicines industry a key to Asian opportunity

Sunday, 28 October 2012

Media Release

The Government’s Australia in the Asian Century report, released today, highlights the opportunity provided by the Australian medicines industry for Australia to engage with the emerging markets in the Asian region, Medicines Australia chief executive Dr Brendan Shaw said today.

“The Australian medicines industry is already helping to drive Australia’s engagement with the Asian region and there are further opportunities ahead,” Dr Shaw said.

“Medicines are among Australia’s largest manufacturing exports to Asia, and with Australia’s latent competitive strengths in this area, we have the potential to grow this significantly.

“We are already seeing companies like CSL, AstraZeneca and GlaxoSmithKline supplying Asian markets from their operations in Australia and, if we get the policy settings right, we can build further on these opportunities.

“As well as supplying things like blood products, asthma medicines and flu medicines to Asia, the Australian industry is also supplying services like clinical trials and health economic analysis to the Asian economies.

“Over the next five years emerging markets will double their share of the global medicines market from 14 per cent to 30 per cent and account for most of the growth in the global market, with Asia accounting for a significant part of that.

“With rapid growth, rising incomes and a growing middle-class, Asian markets are likely to see increased demand for prescription medicines and this provides Australian researchers, biotech companies and fully-fledged medicine companies with real opportunities.

“The challenge is to ensure we get our policy settings right including programs to boost Asian engagement coming out of the Australia in the Asian Century report. We need a comprehensive response to the Manufacturing Taskforce Report, we need to maintain predictable policies in health, IP and innovation, and to develop a strategy to put Australia more on the radar screen of the global medicines industry.

“There’s no doubt we have the capability to engage with Asian economies even more through our strengths in the medicines industry. Examples today already prove we can. The challenge is to capitalise on the opportunities we have and drive that engagement further.”

-ENDS-

Contact Person:

Jamie Nicholson
Media Communications Manager
Phone: 0419 220 293
Email:
Jamie.Nicholson@medicinesaustralia.com.au

Information

As COVID19 continues to spread, our thoughts go out to anyone who has been infected or impacted. We hope that you are taking the necessary precautions to keep safe and well, both at work and at home.

Medicines Australia continues to monitor the situation and take advice from the Department of Health and the World Health Organisation. We are focused on responding to the important short-term issues but are also ensuring we stay balanced and maintain a focus on the medium and long-term business for our industry along with the well-being of our people.

At Medicines Australia we have initiated the following to ensure we support containment measures to provide business continuity and the well-being of our staff.

  • All non-essential travel has been restricted or cancelled
  • All face-to-face meetings (with external stakeholders and members) have been changed to virtual meetings (where appropriate)
  • Staff have been provided with the latest official information on COVID-19 through a hot-link on the office intranet; this information is regularly monitored and updated
  • Flexible working arrangements are covered in our HR policy which will allow staff to work remotely, if or when required
  • Current IT infrastructure enables staff to work remotely and will be in use if any person needs to self-isolate
  • Visual reminders have been displayed around the office, providing information about best hygiene practices
  • Extra hand-sanitiser, tissues and cleaning products have been supplied to staff for their work spaces

Our latest information is located at medicinesaustralia.com.au/covid-19/

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