Interesting Facts about Pharmacy Industry in Australia

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Interesting Facts about Pharmacy Industry in
Australia
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Australia hosts over 50 global research
companies, with 390 plus locally owned
biotechnology companies it is quickly becoming
the countrys leading innovative industry.
Employing of thousands of highly-skilled
Australian workers big Pharma generates billions
of dollars worth of exports as it invests
millions of dollars annually in the Australian
economy as well as research and development.
Some interesting facts about the Australian
Pharmacy Industry
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• When pharma tries to introduce new vaccines and
  medicines onto the Australian market it is
  incredibly risky time consuming and expensive,
  usually costing around 2.5 to 3 billion, much
  of which goes into research and development and
  takes between 10 to 15 years to complete.

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• Each year over US100 billion is invested by the
  pharmaceutical industry globally in research and
  development this is much more than any other
  business sector grew by an average of 3.4 percent
  per year.

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• Currently the pharmaceutical industry is
  developing many thousands of new medicines and
  vaccines, including Biologics a new revolutionary
  type of medicine. These are complex molecules
  derived from living cells with hundreds of
  different types they are at the forefront of
  modern medicine and are expected to become the
  most effective way known to treat a large variety
  of todays illnesses and disabilities.

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• Sadly the number of new clinical trials initiated
  by the pharmaceutical industry in Australia is in
  declining each year, although this industry in
  Australia initiates hundreds of new clinical
  trials that support thousands of Australians in
  high-paying jobs that play a vital role in
  improving all Australians health and wellbeing.

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• The Australian Government has introduced its RD
  (Research and Development) tax incentive to try
  and increase the countrys attractiveness as an
  investment destination in the private sector.
  Offering companies a 43.5 per cent refundable tax
  offset if they have a turnover under 20 million
  and a 38.5 percent to companies with more than
  20 million.

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• Each year the pharmaceutical industry in
  Australia adds almost 3 billion to the economy
  and is one of the countrys largest investors in
  research and development it accounts for 9
  percent of all R D business expenditure in
  Australia.

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• Vaccines and medicines are one of Australias
  largest manufactured exports and this is expected
  to more than double over the next decade,
  Australias biggest market is Asia which is
  proving to be a significant opportunity for
  Australian investment.

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Aspirin, which is one of the first manufactured
drugs known was first derived from the bark of
the willow tree and is still one of the most
researched drugs in the world today. Aspirin can
be found on pharmacy shelving in Sydney and all
other parts of Australia.
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The pharmaceutical industry one of Australia
largest investors in research and development,
employs thousands of Australians in well-paying
jobs to produce medicines and vaccines that keep
Australian healthy and provide millions of
dollars for both the domestic economy and
overseas trade.
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