Posted by Michael Wonder on 26 Jan 2017
Australia Day celebration of the life sciences industry
26 January 2017 - As Australians pause for a day to celebrate and reflect on who and where we are as nation, Australia’s is positioned well in biotechnology to deliver on its promise for the future as a driver for the Australian economy.
The official slogan for the day is ‘Celebrate #AustraliaDay your way’ and domestic biotech and medtech companies can be proud of the growing industry they are now part of and form. Australia is for third consecutive year named in the top five global biotechnology innovation hubs.
The medical technology and pharmaceuticals sector is already a significant contributor to the Australian economy, according to MTPConnect, generates about $4.4 billion in gross economic value added (4.5% of Australia’s total manufacturing gross value added), $4.0 billion in annual exports from manufacturing and employs 48,000 people.
